Suppose the Time It Takes for a Purchasing Agent to Complete

question 190

Multiple Choice

Suppose the time it takes for a purchasing agent to complete an online ordering process is normally distributed with a mean of 8 minutes and a standard deviation of 2 minutes.Suppose a random sample of 25 ordering processes is selected.What is the probability that the sample mean will be less than 7.5 minutes?

• A)0.3944
• B)0.1056
• C)0.2114
• D)0.4013
• E)0.8944

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Definitions:

Equity Method

An accounting technique used by firms to assess the profits earned from their investments in other companies, by reporting these profits proportional to their ownership percentage.

Dividend Revenue

Dividend revenue refers to the income earned by investors or companies from holding shares of other entities that pay dividends.

Significant Influence

Refers to the power to participate in the financial and operating policy decisions of another entity, without having full control over it.

Common Stock

It represents shares of ownership in a corporation, giving holders voting rights and a share in the company's profits via dividends.