Scores on a University Exam Are Normally Distributed, with a Mean

question 27

Multiple Choice

Scores on a university exam are Normally distributed, with a mean of 78 and a standard deviation of 8. The professor teaching the class declares that a score of 70 or higher is required for a grade of at least C. Using the 68-95-99.7 rule, what percent of students score below 62?

• A)2.5%
• B)5%
• C)16%
• D)32%

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Definitions:

Inventories

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials to be consumed in the production process.

Consignment

A sales arrangement in which goods are entrusted to a seller, but title to the goods remains with the supplier until they are sold.

Consignor

The entity that owns goods but entrusts them to another (consignee) for sale, distribution, or safekeeping.

Inventory

The raw materials, work-in-progress products, and finished goods that are considered to be the portion of a business’s assets that are ready or will be ready for sale.