The Amount of Time Necessary for Assembly Line Workers to Complete

question 27

Short Answer

The amount of time necessary for assembly line workers to complete a product is a normal variable with a mean of 15 minutes and a standard deviation of 2 minutes.So,15% of the products require more than minutes for assembly.

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Definitions:

Free Floating Exchange Rate System

A currency system where the value of a country's currency is determined by the supply and demand for the currency in the foreign exchange market, without direct government control.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in.

Billion

A numerical value equal to 1,000 million in the short scale and 1,000,000 million in the long scale.

Depreciates In Value

The process by which an asset loses value over time.