The Amount of Time Necessary for Assembly Line Workers to Complete

question 56

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 less than 20 minutes.

Know the requirements for a binding contract, including mutual assent, consideration, legality of object, and contractual capacity.

Identify the governing laws for different types of contracts (goods, services, employment).

Understand the principles of enforceability for noncontractual promises based on justifiable reliance.

Recognize when a contract is voidable due to material misrepresentation.

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Definitions:

Scholarships

Financial aid awards designed to support students' education, awarded on the basis of academic or other achievements.

FAFSA

Stands for Free Application for Federal Student Aid; it is a form completed by current and prospective college students in the United States to determine their eligibility for student financial aid.

Financial Aid

Monetary support granted to students to help cover education costs, often from colleges, universities, or government bodies.

FAFSA

Free Application for Federal Student Aid; a form used by students to apply for financial aid for college or graduate school.