Customers Arrive at the Local Grocery Store at a Steady

question 51

Multiple Choice

Customers arrive at the local grocery store at a steady rate of 40 an hour.Thirty percent of these customers purchase 10 items or less and go to the express line where they enjoy an average checkout time of 5 minutes.Customers that don't meet the express line criterion go to checkout line #2 where they spend an average of 10 minutes checking out.How many people are checking out in both lines on average?

• A) Less than or equal to one
• B) Greater than one but less than or equal to three
• C) Greater than three but less than or equal to five
• D) Greater than five

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Definitions:

AASB 127

An accounting standard issued by the Australian Accounting Standards Board that outlines the accounting and reporting principles for investments in associates and joint ventures.

Separate Financial Statements

Financial statements presented by a parent or an investment entity that displays its investments in subsidiaries, associates, and joint ventures at cost or in accordance with specified financial instruments standards.

Reporting Entity

An entity, including companies and governments, that is required to present its financial statements to external users.

Percentage Of Ownership

Refers to the fraction of a company's shares that an individual or entity owns, typically expressed as a percentage of the total shares.