Let the Lifetime of a New Jet Ski Be Represented

question 29

Multiple Choice

Let the lifetime of a new Jet Ski be represented by a lognormal variable, where X is normally distributed.Let the mean of the lifetime of the Jet Ski be six years with a standard deviation of three years. What proportion of the Jet Skis will last nine or more years?

• A) 0.1379
• B) 0.1587
• C) 0.8413
• D) 0.8621

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Definitions:

Formula Selling Presentation

A structured sales technique that follows a predetermined script or guidelines to present a product or service to potential customers.

Canned Sales Presentation

A pre-prepared sales pitch or presentation that is designed to be used for multiple customers without significant modification.

Personal Selling Process

A direct marketing approach that involves face-to-face interaction to sell a product or service.

Prospect

A potential customer or client who might be interested in a company's product or service.