The Time It Takes to Process Phone Orders in a Small

question 22

Multiple Choice

The time it takes to process phone orders in a small florist/gift shop is normally distributed With a mean of 6 minutes and a standard deviation of 1.24 minutes.What cutoff values Would separate the 16% of orders that take the least time to process?

• A)3.52 minutes
• B)4.76 minutes
• C)8.48 minutes
• D)10.01 minutes
• E)11.98 minutes

Understand the concept and significance of Net Present Value (NPV) in evaluating capital investments.

Be able to calculate the Net Present Value of various investment proposals using present value factors.

Comprehend the concept of the time value of money and its importance in capital budgeting decisions.

Understand how to determine and interpret the internal rate of return (IRR) for an investment.

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Definitions:

Intangible

Describes something that cannot be physically touched or measured, such as services, brand reputation, or intellectual property.

Reliability

The degree to which a service, tool, or system consistently performs according to its intended or required outcome without failure.

Responsiveness

The speed and quality with which an organization reacts to customer inquiries, complaints, or orders.

Assurance

A guarantee or pledge, often used in the context of service quality, ensuring customer satisfaction.