50.The price-earnings ratio for firms in a given industry follows the normal distribution. In this industry, a firm whose price-earnings ratio has a standardized value of z= 1.00 is approximately in the highest ______ percent of firms in the industry. A.16 percentB. 34 percentC. 68 percentD. 75 percentAbout 15.86 percent of the area is above one standard deviation.AACSB: AnalyticBlooms: ApplyDifficulty: 2 MediumLearning Objective: 07-04 Find the normal probability for given z or x using tables or Excel.Topic: Standard Normal Distribution51.A student's grade on an examination was transformed to a zvalue of 0.67. Assuming a normal distribution, we know that she scored approximately in the top: P(Z > 0.67) = 1 - P(Z< 0.67) = 1 - .2514 = .7486.AACSB: AnalyticBlooms: ApplyDifficulty: 2 MediumLearning Objective: 07-04 Find the normal probability for given z or x using tables or Excel.

Topic: Standard Normal Distribution52.The MPG (miles per gallon) for a certain compact car is normally distributed with a mean of 31 and a standard deviation of 0.8. What is the probability that the MPG for a randomly selected compact car would be less than 32? P(X< 32) = P(Z< 1.25) = .8944.AACSB: AnalyticBlooms: ApplyDifficulty: 2 MediumLearning Objective: 07-04 Find the normal probability for given z or x using tables or Excel.Topic: Standard Normal Distribution53.The probability is .80 that a standard normal random variable is between -zand +z. The value of zis approximately: For tail areas of .1000 we would use z= 1.282.AACSB: AnalyticBlooms: ApplyDifficulty: 2 Medium

Learning Objective: 07-05 Solve for z or x for a given normal probability using tables or Excel.Topic: Standard Normal Distribution54.The time required for a citizen to complete the 2010 U.S. Census "long" form is normally distributed with a mean of 40 minutes and a standard deviation of 10 minutes. What proportion of the citizens will require less than one hour? A. 0.4772B.0.9772C. 0.9974D. 0.9997P(X< 60) = P(Z< 2.00) = .9772.AACSB: AnalyticBlooms: ApplyDifficulty: 2 MediumLearning Objective: 07-04 Find the normal probability for given z or x using tables or Excel.Topic: Standard Normal Distribution

55.The time required for a citizen to complete the 2010 U.S. Census "long" form is normally distributed with a mean of 40 minutes and a standard deviation of 10 minutes. The slowest 10 percent of the citizens would need at least how many minutes to complete the form? Using Excel =NORM.INV(.90,40,10) = 52.82, or 40 + 1.282(10) = 52.82 using Appendix C.AACSB: AnalyticBlooms: ApplyDifficulty: 3 HardLearning Objective: 07-05 Solve for z or x for a given normal probability using tables or Excel.Topic: Standard Normal Distribution

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