The Average Length of Time, Per Week, That Students at a Certain

question 101

Short Answer

The average length of time, per week, that students at a certain university spend on homework is normally distributed with a mean of 24.3 hours and a standard deviation of 1.4 hours. Jane tells her parents she spends more time studying than 75% of the students on campus. How many hours per week must Jane spend on homework for this to be true?

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Definitions:

Warrants

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a security at a specified price before a certain date.

Common Stock

Equity security representing ownership in a corporation, providing voting rights and entitling the holder to a share of the company's success through dividends and/or capital appreciation.

Journalize

The process of recording transactions and events in the accounting journals as part of the accounting cycle.

IFRS

International Financial Reporting Standards; a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for financial reporting.