The Contents of Soft Drink Bottles Are Normally Distributed with a Mean

question 105

Short Answer

The contents of soft drink bottles are normally distributed with a mean of twelve ounces and a standard deviation of one ounce.
a.What is the probability that a randomly selected bottle will contain more than ten ounces of soft drink?
b.What is the probability that a randomly selected bottle will contain between 9.5 and 11 ounces?
c.What percentage of the bottles will contain less than 10.5 ounces of soft drink?

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Definitions:

U.S.GAAP

Generally Accepted Accounting Principles in the United States, a collection of financial reporting standards utilized in the U.S. for accounting purposes.

IFRS

The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB), aimed at making global financial reporting more transparent and comparable.

OCI

Other Comprehensive Income, which includes revenues, expenses, gains, and losses that are not included in net income and directly affect shareholders' equity.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.