The Time Taken to Assemble a Car in a Certain

question 12

Essay

The time taken to assemble a car in a certain plant is a random variable having a
normal distribution of 20 hours and a standard deviation of 2 hours. What is the
probability that a car can be assembled at this plant in a period of time
A. less than 19.5 hours?
b. between 20 and 22 hours?

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Definitions:

Spot Market

A public financial market where commodities or financial instruments are traded for immediate delivery.

Futures Market

A standardized market for buying and selling contracts that obligate the delivery of commodities, currencies, or financial instruments at a future date.

Simultaneous

Happening, functioning, or being carried out simultaneously.

Position

In finance, a position refers to the amount of a particular asset or security that is owned by an individual or entity.