The Amount of Time Necessary for Assembly Line Workers to Complete

question 71

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.The probability is
that a product is assembled in more than 19 minutes.

---

Definitions:

Total Profit

The overall financial gain calculated by subtracting total costs from total revenue.

Collude

To come together in secret agreement, especially for a deceitful or illegal purpose.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product or service.

Annual Fixed Cost

Regular, unchanging expenses incurred by a business, regardless of its level of production or sales volume within a year.