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:

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for small, incidental expenses.

Small Expenditures

Minor or trivial expenses often incurred in the day-to-day operation of a business.

Merchandise

Products acquired for resale to customers in the course of business operations.

Voucher System

An accounting system that involves the use of vouchers as proof of a transaction's occurrence, used for controlling expenditures.