A Sample of 500 Evening Students Revealed That Their Annual

question 124

Multiple Choice

A sample of 500 evening students revealed that their annual incomes from employment in industry during the day were normally distributed with a mean income of $30,000 and a standard deviation of $3,000. (i) 250 students earned more than $30,000.
(ii. 500 students earned between $20,000 and $40,000.
(iii) 11 students earned more than $36,000.

• 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:

Merchandisers

Businesses that purchase and sell goods without significantly altering their form.

Performance Obligation

A duty or commitment that a company must fulfill to transfer a promised good or service to a customer.

Sales Returns And Allowances

Sales returns and allowances account for the reduction in sales revenues due to returned or defective products allowed by a company to its customers.

Sales Discounts

Reductions in the price of goods or services offered to customers, typically in exchange for early payment.