A Study of the Amount of Time It Takes a Mechanic

question 160

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

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Definitions:

Interest Annually

Interest annually refers to interest that is calculated and added to the principal balance once per year.

Term Deposit

A bank deposit that has a fixed term and typically offers a higher interest rate than savings accounts.

Credit Union

A member-owned financial cooperative that provides traditional banking services.

Simple Interest

Interest calculated only on the principal amount, or the original sum of money borrowed or invested, without considering the effect of compounding over time.