Exhibit 6-6 The Life Expectancy of a Particular Brand of Tire Is

question 27

Multiple Choice

Exhibit 6-6
The life expectancy of a particular brand of tire is normally distributed with a mean of 40,000 and a standard deviation of 5,000 miles.
-Refer to Exhibit 6-6. What is the probability that a randomly selected tire will have a life of exactly 47,500 miles?

• A)0.4332
• B)0.9332
• C)0.0668
• D)zero

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Definitions:

Expected Opportunity Loss

Expected opportunity loss is a decision-making tool, calculating the potential loss for not choosing the best course of action in uncertain situations.

Market Condition

The current status and dynamics of a market, including trends, demand, and competition.

Videography Business

A commercial enterprise that provides services related to filming, video editing, and production of visual content.

Expected Opportunity Loss

The anticipated loss of value from not choosing the best alternative option in a decision-making process.