Apply the empirical rule

Assignment Help Microeconomics
Reference no: EM131040248

A process for filling cans of tomato sauce at a particular plant yields cans with sodium levels having a bell-shaped (i.e., approximately normal) distribution with an estimated mean of 460 mg and standard deviation of 20 mg.

a) Apply the Empirical Rule to describe the sodium levels of the cans filled at the plant.

b) Would a sodium level of 430 mg be considered an outlier? Why or why not?

Reference no: EM131040248

Questions Cloud

Unemployment rates of the european countries : In recent decades labor markets in European countries like Italy and Spain have been A. less regulated and the unemployment rates of the European countries have been lower than the United States. B. more highly regulated and the unemployment rates of..
Analyze the explanations regarding thinking and learning : Analyze the explanations regarding thinking and learning discussed in the textbook (e.g., multiple intelligences, emotional intelligence constructivism, etc.). Propose at least two ways one of the thinking and learning approaches could be used eff..
Probability of neither a high return : If the probability of a high return on stock C next year is .30, the probability of a high return on stock D next year is .40, and the probability of both a high return on stock C and a high return on stock D next year is .12, what is the probabil..
Compute the cost of one-to-all broadcast : Give an example of how increasing processor utilization increase inter processor communication and compute efficiency of adding n numbers on an n-processor hypercube.
Apply the empirical rule : A process for filling cans of tomato sauce at a particular plant yields cans with sodium levels having a bell-shaped (i.e., approximately normal) distribution with an estimated mean of 460 mg and standard deviation of 20 mg. a) Apply the Empirical..
High profits of wal-mart : "Wal-Mart is a low-wage firm and this indicates that it exploits its workers." Which of the following should cause one to question the validity of this statement?
Variance of a sample : Why is the variance of a sample determined differently than the variance of a population?
Importance of business failure : Which of the following best summarizes the importance of business failure and the central idea of "creative destruction in a market economy"?
How frequently does your company forecast : How frequently does your company forecast? is there an annual budget cycle? How often is it revised and what elements are included? Please include some specifics without spilling any confidential details.

Reviews

Write a Review

Microeconomics Questions & Answers

  Has the fed saved us from another great depression

Has the Fed saved us from another Great Depression? Since the recession of 2007, the U. S. Federal Reserve has increased bank reserves and brought the federal funds rate (interest rate charged with banks on interbank loans) down to 0.25 %. Did this p..

  Find equilibrium price and quantity

Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.

  What is the immediate impact on the equity ratio

The bank issues a letter of credit to one of its corporate clients. What is the immediate impact on the equity ratio? What is the immediate impact on the equity ratio desired by the bank's management?

  Afirm has the following production function q kl where q

a firm has the following production function q kl where q output l labour measured in person hours k capital

  Calculate the consumer price index

Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been selected as the base year. In 2002, the baskets cost was $600; in 2004, the baskets cost was $650; and in 2006, the baskets cost..

  End of each year-the worker makes every payment

At the end of each year, a worker invests $2,000 into an account the draws 4% interest. The worker makes every payment for the next 30 years except for the payment at the end of year 10. That is, no money is invested at the end of year 10. How much m..

  Microeconomic or macroeconomic forces affects

Managerial decisions are affected primarily by microeconomic forces. By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces.

  What will be the company profits or losses

What will be the company's profits or losses? How can you tell at a glance whether the company is making or losing money at this price just by looking at average cost?

  Identify the type of merger activity in industry

Identify the type of merger activity in industry or one with which you are familiar-horizontal, vertical, or conglomerate-and explain why you made that choice.

  Discuss concepts of price transparency and information

Discuss the concepts of price transparency and information asymmetry and they apply to the diamond industry as a result of the entry of BlueNile. Name another industry where the Internet has had a similar impact.

  What is the general relationship between wavelength and wave

How do particles move in an ocean wave?  How is that movement similar to or different from the movement of particles in a wave in a spring or a rope?  How does this relate to a stadium wave - a waveform made by sports f..

  Which country has an absolute advantage of producing wheat

Labor hours required to produce one unit of cloth in the united kingdom is 6. The labor hours required to produce one unit of cloth in the united states is 5. Which country has an absolute advantage of producint wheat In producing cloth

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd