Sure Stone Tire Company Has Established That the Useful Life

question 80

Multiple Choice

Sure Stone Tire Company has established that the useful life of a particular brand of its automobile tires is normally distributed with a mean of 40,000 miles and a standard deviation of 5000 miles.What is the probability that a randomly selected tire of this brand has a life between 30,000 and 50,000 miles?

• A) 0.5000
• B) 0.4772
• C) 0.9544
• D) 0.9772
• E) 1.0000

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Definitions:

Gini Ratio

A numerical measure of the overall dispersion of income among households, families, or individuals; found graphically by dividing the area between the diagonal line and the Lorenz curve by the entire area below the diagonal line.

Income Inequality

The uneven allocation of income among households or individuals within an economic system.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, indicating inequality.

Noncash Transfers

Benefits provided by the government to individuals in forms other than direct cash, such as food stamps or medical aid.