The $z$-score of the observed value is 46318.41.
To calculate the $z$-score, we use the formula $z = \frac{(X - \mu)}{\sigma}$, where $X$ is the observed value, $\mu$ is the mean of the distribution, and $\sigma$ is the standard deviation of the distribution.
In this case, $X = 110.25$, $\mu = 110.6$, and $\sigma = 0.117$.
Substituting these values into the formula gives us $z = \frac{(110.25 - 110.6)}{0.117} = -2.99$.
A $z$-score of -2.99 indicates that the observed value is below the mean. In the context of finish times, where a lower score indicates a better performance, this suggests a convincing victory.
The $z$-score of the observed value is -2.99.