The Weight of a Product Is Normally Distributed with a Mean

question 60

Multiple Choice

The weight of a product is normally distributed with a mean of four ounces and a variance of .25 "squared ounces." The company wants to classify the unit as a scrap in a maximum of 1% of the units if the weight is below a desired value.Determine the desired weight such that no more than 1% of the units are below it.

• A)3.360
• B)3.680
• C)2.835
• D)3.418

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Definitions:

Income Statement

A financial statement that provides a summary of a company's revenues, expenses, and profits or losses over a specific period of time.

Revenues

Aggregate income produced from the core activities of a business, mainly through the sale of goods and services.

Expenses

The outflow of money or other resources from a person or company to pay for goods or services.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue and expenses to show net income or loss.