A Small Flower Shop Takes Orders by Phone and Then

question 15

Multiple Choice

A small flower shop takes orders by phone and then one of the staff florists is assigned to prepare the arrangement.The time it takes to process phone orders is normally distributed with a mean of 6 minutes and a standard deviation of 2.5 minutes.The time it takes for an arrangement to be completed is normally distributed with a mean of 35 minutes and a standard deviation of 8.6 minutes.What is the standard deviation for the total time to process a phone order and complete the floral arrangement at this flower shop (assuming times are independent) ?

• A)8.96 minutes
• B)41 minutes
• C)80.28 minutes²
• D)4.87 minutes
• E)12.43 minutes

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Definitions:

Income Distribution

The way in which total income is shared among individuals or groups within a society.

Perfect Competition

A market structure characterized by a large number of small firms, identical products sold by all firms, freedom of entry and exit, and perfect information about prices and products.

P = MC

The condition where the price of a good equals its marginal cost, representing an equilibrium in perfect competition markets.

Technological Progress

The advancement in technology which increases production efficiency and leads to economic growth.