The Mean Life of a Particular Brand of Light Bulb

question 23

Multiple Choice

The mean life of a particular brand of light bulb is 1200 hours and the standard deviation is 50 hours.It can be concluded that at least 89% of this brand of bulbs will last between _______.

• A)1100 and 1300 hours
• B)1150 and 1250 hours
• C)1050 and 1350 hours
• D)1000 and 1400 hours
• E)950 and 1450 hours

Recognize the impact of group dynamics on individual behavior, including phenomena such as groupthink.

Distinguish between different techniques of gaining compliance and their applications in real life.

Understand the influence of stereotypes, prejudice, and attraction in social relationships.

Describe the impact of persuasive communication and fear-based messages on attitude change.

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Definitions:

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.

LIFO Reserve

The difference between the cost of inventory calculated using the Last In, First Out method and the First In, First Out method.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle.

LIFO

Last In, First Out, an inventory valuation method that assumes the most recently acquired items are sold first, affecting accounting and tax calculations.