If We Know That the Length of Time It Takes

question 63

Multiple Choice

If we know that the length of time it takes a college student to find a parking spot in the library parking lot follows a normal distribution with a mean of 3.5 minutes and a standard deviation of 1 minute, find the point in the distribution in which 75.8% of the college students exceed when trying to find a parking spot in the library parking lot.

• A) 2.8 minutes
• B) 4.2 minutes
• C) 3.4 minutes
• D) 3.2 minutes

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Definitions:

General Costs

General costs are indirect expenses related to the overall operations of a company that cannot be directly tied to a specific product or service, such as rent, utilities, and administrative salaries.

Indirect Materials

Materials used in the production process that do not directly become part of the finished product.

Manufacturing

The procedure of changing basic materials, components, or elements into end products that align with a customer’s needs or criteria.

Direct Materials

Raw materials that can be directly traced to the manufacturing process of a product and are a significant part of its cost.