Solve the Problem. -A Study of the Amount of Time It Takes a It

question 85

Multiple Choice

Solve the problem.
-A study of the amount of time it takes a mechanic to rebuild the transmission for a 1992 Chevrolet Cavalier shows that the mean is 8.4 hours and the standard deviation is 1.8 hours. If 40 mechanics are randomly selected, find the probability that their mean rebuild time exceeds 7.7 hours.

• A)0.8531
• B)0.9931
• C)0.9712
• D)0.9634

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Definitions:

Arithmetic Operations

Fundamental mathematical operations including addition, subtraction, multiplication, and division.

Financial Mathematics

Financial mathematics is a field of applied mathematics concerned with financial markets, aiming at solving problems related to valuation, investment, and risk management.

Annuity Formula

A mathematical formula used to calculate the future value of an annuity or the payments required to meet a certain future value.

Compound Interest

Interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods.