A Lumber Yard Cuts 2" X 4" Lumber into 8

question 70

Short Answer

A lumber yard cuts 2" x 4" lumber into 8 foot studs. It is observed that the actual lengths of the studs are normally distributed with mean 8 feet and standard deviation 1 foot. What proportion of the studs are longer than 8.25 feet? Enter just a real number rounded off to two decimal places.

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Definitions:

Luxury Items

Goods and services that are considered non-essential but desirable, often characterized by their high quality, exclusivity, and high price.

Necessities

Basic needs or essential goods and services required for individuals to maintain a minimum standard of living, such as food, shelter, and healthcare.

Cross-Price Elasticity

A measure of the responsiveness of demand for one good to a change in the price of another good.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a given price in a specified period.