The Time It Takes a Woman to Travel from Her

question 122

Multiple Choice

The time it takes a woman to travel from her apartment to the bus station follows a uniform distribution over the interval from 20 to 30 minutes.If she leaves home at 9:05 a.m. ,what is the probability that she will get to the station between 9:25 and 9:30 a.m.?

• A)1.0
• B)0
• C)0.5
• D)0.25

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Definitions:

Long Run

A period during which all factors of production and costs are variable, allowing all inputs to be adjusted.

Profit-Maximizing

A strategy where a company seeks to achieve the highest possible profit, often by adjusting output levels or prices.

Units

Basic quantities or measures adopted to quantify and represent variables in quantitative analyses, such as units of measurement in physics or economic units in economics.

Profit-Maximizing

The process or strategy by which a firm determines the price and output level that returns the greatest profit.