The Amount of Time Necessary for Assembly Line Workers to Complete

question 123

Short Answer

The amount of time necessary for assembly line workers to complete a product is a normal random variable with a mean of 15 minutes and a standard deviation of 2 minutes. The probability is ________ that a product is assembled in between 10 and 12 minutes.

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Definitions:

Net Realizable Value

The estimated selling price of goods, minus the cost of their sale or completion.

Exit Value

The estimated amount that an asset or investment could be sold for at the end of its useful life.

Economic Resource

Assets or inputs that have the potential to contribute to the production of goods and services, providing economic benefit to businesses or individuals.

Asset

Resources owned or controlled by a business, projected to bring future economic benefits.