The Average Score of 100 Students Taking a Statistics Final

question 55

Multiple Choice

The average score of 100 students taking a statistics final was 70 with a standard deviation of 7. Assuming a normal distribution, approximately how many scored 90 or higher?

• A) 0.4979
• B) 0.0021
• C) 0.9979
• D) 2.86

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Definitions:

Marginal Revenue

The additional income gained from selling one more unit of a product or service.

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups for the same product or service, based on varying demand elasticities.

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups based on their elasticity of demand.

Profits Maximization

Aiming to achieve the highest possible profits through decision-making related to business operations and finance.