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The Amount of Time Necessary for Assembly Line Workers to Complete

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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 between 15 and 21 minutes.


Definitions:

Allocation

The process of distributing resources or costs among various projects, departments, or periods.

Return on Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated as the net profit divided by the cost of the investment.

Profit Margin

A financial metric used to evaluate a company's financial health by revealing the percentage of revenue that exceeds the cost of goods sold.

Investment Turnover

A financial ratio indicating how effectively a company is using its invested capital to generate sales or revenue.

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