Let X Be Normally Distributed with Mean µ = 250

question 64

Multiple Choice

Let X be normally distributed with mean µ = 250 and standard deviation σ = 80. Find the value x such that P(X ≤ x) = 0.0606.

• A) −1.55
• B) 1.55
• C) 126
• D) 374

---

Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a period, reflected in its income statement.

Contractual Interest Rate

The agreed-upon rate of interest to be paid on loans or bonds, specified within a contract.

Annual Rate

A yearly interest rate that accounts for compounding over a 12-month period.

Term Bonds

Term bonds are bonds that mature on a single date, with the principal amount being repaid at the end of the bond term.