For Any Normally Distributed Random Variable with Mean μ and Standard

question 114

Multiple Choice

For any normally distributed random variable with mean μ and standard deviation σ, the proportion of the observations that fall outside the interval [μ - σ, μ + σ] is the closest to ________.

• A) 0.0466
• B) 0.3174
• C) 0.8413
• D) 0.1687

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Definitions:

Gross Method

An accounting approach to recording purchases at their full invoice amount without deducting any cash discounts offered.

Merchandise Return

The process of a customer returning previously purchased goods to the seller, often due to defects or unsatisfaction, which may result in a refund or replacement.

Gross Method

An accounting method for recording purchases at the total invoice cost without deducting any cash discounts at the time of purchase.

Perpetual Inventory System

An accounting method that continuously updates the quantity and cost of inventory as purchases and sales are made.