Mrs Smith's Reading Class Can Read an Average of 175

question 36

Short Answer

Mrs. Smith's reading class can read an average of 175 words per minute with a standard deviation of 20 words per minute. The top 3% of the class is to receive a special award. What is the minimum number of words per minute a student would need to read in order to get the award? Assume the data is normally distributed.

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Definitions:

Competitive Injury

Harm or damage inflicted on a business's competitive position, often through unfair practices by competitors.

Section 7 of the Clayton Act

A provision in U.S. antitrust law that prohibits mergers and acquisitions where the effect may be substantially to lessen competition, or tend to create a monopoly.

Competition

The rivalry among businesses to attract customers and achieve higher sales, profits, and market share.

Monopoly

A market structure characterized by a single seller offering a unique product or service without close substitutes, leading to control over pricing and market conditions.