The fundamental properties of a punctured normal distribution are studied. The results are applied to three issues concerning X/Y where X and Y are independent normal random variables with means μX and μY respectively. First, estimation of μX/ μY as a surrogate for E(X/Y) is justified, then the reason for preference of a weighted average, over an arithmetic average, as an estimator of μX/μY is given. Finally, an approximate confidence interval for μX/μY provided. A grain yield data set is used to illustrate the results.