X Is a Normally Distributed Random Variable with a Mean

question 62

Multiple Choice

X is a normally distributed random variable with a mean of 12 and a standard deviation of 3. The probability that x equals 19.62 is

• A)0.000
• B)0.0055
• C)0.4945
• D)0.9945

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Definitions:

Oligopoly

A market situation in which a small number of sellers constitutes the entire industry. It is competition among the few.

Cartel Arrangements

Agreements among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in anticompetitive behavior.

Oligopolists

Firms or individuals that control the market for a particular good or service in an oligopoly, where a small number of entities dominate.