Assume That Y Is Normally Distributed N(μ,σ2)

question 37

Multiple Choice

Assume that Y is normally distributed N(μ,σ2) .Moving from the mean (μ) 1.96 standard deviations to the left and 1.96 standard deviations to the right,then the area under the normal p.d.f.is

• A)0.67
• B)0.05
• C)0.95
• D)0.33

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Definitions:

Equilibrium Quantity

The amount of products or services available and sought after at the market's balance price.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where supply equals demand.

Excess Demand

A scenario in which the demand for a product or service surpasses the supply available at the existing price.

Surplus

An excess of production or supply over demand.