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1. Which of the following is not true about the Normal Distribution?
It is symmetric.
Its mean and median are equal.
It is completely described by its mean and its standard deviation.
It is bimodal.
2. A filling machine in a brewery is designed to fill bottles with 355 ml of hard cider. In practice, however, volumes vary slightly from bottle to bottle. In a sample of 49 bottles, the mean volume of cider is found to be 354 ml, with a standard deviation of 3.5 ml. At a significance level of 0.01, which conclusion can the brewer draw?
The true mean volume of all bottles filled is 354 ml.
The machine is not filling bottles to an average volume of 355 ml.
There is not enough evidence to indicate that the machine is not filling bottles to an average volume of 355 ml.
The machine is filling bottles to an average volume of 355 ml.
In project valuation, one of the advantages of the Payback rule is that it provides a simple way to communicate an idea of project profitability.
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