Use the Following Information for Following Questions

question 28

Multiple Choice

Use the following information for following questions . The mean time it takes for workers at a factory to insert a
delicate bolt into an engine is 15 minutes. The standard deviation of time to insert the bolt is 4.0 minutes and the
distribution of time is approximately normally distributed.
-97.5% of the time, the bolt is inserted in less than which time value? Round to the nearest whole number.

• A)23 minutes
• B)19 minutes
• C)7 minutes
• D)15 minutes

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Definitions:

Payments 13 to 24

Refers to the series of payments that are made from the thirteenth to the twenty-fourth installment in a sequence of payments.

Compounded Monthly

The process of adding interest to a principal amount each month, where each month's interest is computed based on the total of the original principal and the accumulated interest.

Home Improvement Loan

A type of loan intended to finance the renovation or repair of a home.

Equal Monthly Payments

Payments of equal amount made each month over a specified period, commonly associated with loans or financing plans.