Instruction 7.3 The Lifetimes of a Certain Brand of Light Bulbs Are

question 116

Essay

Instruction 7.3
The lifetimes of a certain brand of light bulbs are known to be normally distributed with a mean of 1,600 hours and a standard deviation of 400 hours. A random sample of 64 of these light bulbs is taken.
-Referring to Instruction 7.3,the probability is 0.15 that the sample mean lifetime is more than how many hours?

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Definitions:

Financing Activities

Activities that result in changes in the size and composition of the equity capital and borrowings of an entity.

Unamortized Discount

The portion of a bond issuance discount that has not yet been expensed to interest over the bond’s life.

Journal Entry

A record in accounting that notes the details of a financial transaction.

Face Value

The nominal value of a security stated by the issuer, which is the amount to be repaid at maturity in the case of a bond or the value represented by each share of stock.