A Frequency Distribution Has a Mean of 100 and a Standard

question 46

Multiple Choice

A frequency distribution has a mean of 100 and a standard deviation of 20. The class limits for one class are 50 up to 60. Based on the normal distribution,what is the probability that an observation would be in this class?

• A)0.4938
• B)0.4772
• C)0.0166
• D)−0.0166

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Definitions:

Revenue Variance

The difference between the actual revenue earned by a company and its expected (or budgeted) revenue.

Spending Variances

Variances that arise when there is a difference between the actual amount spent on a particular item or activity and the budgeted or forecasted amount.

Customers Served

Refers to the number of clients or customers that a business has provided goods or services to during a specific period.

Flexible Budget

A financial plan that is modified based on fluctuations in volume or levels of activity.