The Weights of Medium Oranges Packaged by an Orchard Are

question 22

Multiple Choice

The weights of medium oranges packaged by an orchard are Normally distributed with a mean of 14 ounces and a standard deviation of 2 ounces.Ten medium oranges will be randomly selected from a package.What is the sampling distribution of the number of oranges in the sample that weigh more than 14 ounces?

• A)N(14,2)
• B)N(14,0.63)
• C)B(14,0.2)
• D)B(10,0.5)

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Definitions:

Required Return

The minimum expected return by investors for investing in a particular asset, taking into account the risk level of the investment.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, widely used in finance to assess the risk of a financial instrument.

Probability Distribution

An analytical function detailing each potential outcome and its probability for a random variable within a set interval.

Variability

The extent to which data points in a dataset differ from each other and from the mean, often used in statistics.