A Superstar Major League Baseball Player Just Signed a New

question 56

Multiple Choice

A superstar major league baseball player just signed a new deal that pays him a record amount of money.The star has driven in an average of 110 runs over the course of his career,with a standard deviation of 31 runs.An average player at his position drives in 80 runs.What is the probability the superstar bats in fewer runs than an average player next year? Assume the number of runs batted in is normally distributed.

• A) 0.1660
• B) 0.3340
• C) 0.8340
• D) 0.9700

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Definitions:

Utility Function

A mathematical representation of how consumer preferences are related to the consumption of goods and services.

Competitive Market

A market structure characterized by a large number of buyers and sellers, all of whom have minimal impact on the market price.

Coconuts

The large, round, tropical fruit with a hard shell, white flesh, and clear liquid inside, produced by the coconut palm.

Fish

Aquatic animals that are typically covered with scales and have fins for movement; also refers to the act of catching these animals as a form of consumption or sport.