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Use the Normal model.
-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) ?
M. Sims Capital
An account representing the owner’s equity or the funds contributed by and belonging to the owner of a company.
Income Summary
An account used in the closing process that aggregates all income and expense accounts to determine the net profit or loss.
Net Income
The total profit of a business after all expenses and taxes have been deducted from total revenue.
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