The Chief Chemist for a Major Oil/gasoline Production Company Claims

question 26

Multiple Choice

The chief chemist for a major oil/gasoline production company claims that the regular unleaded gasoline produced by the company contains on average 4 ounces of a certain ingredient.The chemist further states that the distribution of this ingredient per gallon of regular unleaded gasoline is normal and has a standard deviation of 1.2 ounces.What is the probability of finding an average in excess of 4.3 ounces of this ingredient from randomly inspected 100 gallons of regular unleaded gasoline?

• A).5987
• B).4013
• C).9938
• D).0062

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Definitions:

Balance Sheet

An overview report showing a business's assets, liabilities, and equity held by shareholders at a specific time.

Adjusted Trial Balance

A statement of all debits and credits in a double-entry accounting system, adjusted for any journal entries, used to verify the balance of accounts before producing financial statements.

Financial Statement Column(s)

Columns in financial statements where various financial data are reported, such as assets, liabilities, revenues, and expenses.

Net Income

The net income of a company once all costs and taxes are subtracted from the total income.