The Distribution of a Sample of the Outside Diameters of PVC

question 47

Multiple Choice

The distribution of a sample of the outside diameters of PVC pipes approximates a symmetrical,bell-shaped distribution. The arithmetic mean is 14.0 inches,and the standard deviation is 0.1 inches. About 68% of the outside diameters lie between what two amounts?

• A)13.5 and 14.5 inches
• B)13.0 and 15.0 inches
• C)13.9 and 14.1 inches
• D)13.8 and 14.2 inches

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Definitions:

Sacrifice Ratio

The sacrifice ratio is an economic concept that measures the cost of reducing inflation in terms of lost output or unemployment.

Disinflates

A process in which the rate of inflation decreases over time but does not turn negative.

Disinflation

A slowdown in the rate of inflation, indicating a reduction in the rate at which prices for goods and services rise over time.

Favorable Supply Shock

A situation in which the supply of goods increases, leading to lower prices and benefiting consumers.