A Loaf of Bread Is Normally Distributed with a Mean

question 102

Multiple Choice

A loaf of bread is normally distributed with a mean of 22 ounces and a standard deviation of ½ ounces. (i) The probability that a loaf of bread is > 23 ounces is 0.0228.
(ii. The probability that a loaf of bread is > 21 ounces is 0.9772.
(iii) The probability that a loaf of bread is < 24 ounces is 1.0.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (i) and (ii) are correct statements but not (iii).
• E) (ii) and (iii) are correct statements but not (i).

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Definitions:

Medium Of Exchange

Items sellers generally accept and buyers generally use to pay for a good or service; the primary job of money.

Keynesian Motive

An economic theory proposed by John Maynard Keynes, suggesting that demand for goods and services is the driving force in an economy, particularly during times of economic downturn.

Inflation

The pace at which overall prices for products and services increase, diminishing the value of money as time passes.

Demand Deposit

A deposit in a commercial bank or other financial intermediary against which checks may be written.