Suppose a Population Has a Mean of 90 and a Standard

question 75

Multiple Choice

Suppose a population has a mean of 90 and a standard deviation of 28.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of less than 84 is ___.

• A)0.9332
• B)0.0668
• C)0.4332
• D)0.8664
• E)1.0000

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Definitions:

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the total quantity produced.

Total Revenue

The overall income obtained by an enterprise from its sales or services within a designated period.

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.