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The amount of drying time for the paint applied to a plastic component part is thought to be uniformly distributed between 30 and 60 minutes. Currently, the automated process selects the part from the drying bin after the part has been there for 50 minutes. Based on this, the probability that a part selected will not be dry is approximately 0.33.
Machinery
Machinery encompasses machines and their components, which are used in industry or manufacturing to perform tasks, including vehicles, equipment, and factory machines.
Mark-up
Markup is the percentage difference between the selling price and the cost price of a product or service.
Selling Price
The amount of money for which a product or service is sold to the customer, which may include costs and markup.
Mark-up
Mark-up refers to the difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.
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