Suppose the Time It Takes for a Purchasing Agent to Complete

question 56

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.What is the probability that it takes longer than 11 minutes for the purchasing agent to complete the process?

• A)0.9332
• B)0.4332
• C)0.0668
• D)0.5668
• E)none of the above

Evaluate the effects of changes in the supply and demand for loanable funds on the interest rate.

Assess the role of inflation in economic decisions and contracts.

Identify strategies for individuals and businesses to mitigate the effects of inflation.

Understand how pension programs and employment contracts can adjust to changes in the price level.

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Definitions:

TOF Timer

A "Timer Off-Delay" that starts timing when its input turns off, and after the preset time, changes the state of its output.

Time Base

"A unit of time generated by a microprocessor’s clock circuit and used by PLC timer instructions. Typical time bases are 0.01, 0.1, and 1.0 second."

Enable Bit

The Enable Bit is a control bit used in digital computing and electronic systems to activate or deactivate a specific function or module.