Professor Elderman Has Given the Same Multiple Choice Final Exam

question 48

Multiple Choice

Professor Elderman has given the same multiple choice final exam in his Principles of Microeconomics class for many years.After examining his records from the past 10 years,he finds that the scores have a mean of 76 and a standard deviation of 12. Refer to Exhibit 7-4.Professor Elderman offers his class of 36 a pizza party if the class average is above 80.What is the probability that he will have to deliver on his promise?

• A)0.0228
• B)0.3707
• C)0.6293
• D)0.9772

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Definitions:

Standard Rate

A predetermined cost or price used in budgeting and costing exercises, reflecting an expected or agreed level of expenditure or charge.

Variable Factory Overhead Controllable Variance

The difference between the actual and budgeted variable overhead costs that management has the ability to influence or control.

Actual Hours

The real number of hours worked or spent on a particular activity or project, as opposed to planned or estimated hours.

Standard Hours

The preset amount of time expected to complete a task or work process in an efficient manner.