A Study of the Amount of Time It Takes a Mechanic

question 46

Multiple Choice

A study of the amount of time it takes a mechanic to rebuild the transmission for a 2010 Chevrolet Colorado 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 is less
Than 8.9 hours.

• A) 0.9589
• B) 0.4276
• C) 0.9608
• D) 0.9756

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Definitions:

Marginal Product

The additional output that is produced by using one more unit of a particular input, keeping all other inputs constant.

Derived Demand

Refers to the demand for a good or service that results from the demand for another good or service.

Productive Resource

Assets, materials, or inputs used in the production of goods and services, including labor, capital, and natural resources.

Factor Demand

The demand for production inputs (such as labor, land, and capital) by firms, determined by their need to produce goods and services.