The Manager of a Car Wash Wants to Know How

question 62

Multiple Choice

The manager of a car wash wants to know how fast his new crew is processing cars through the wash area. He notices that it takes cars an average of about 30 minutes in line to reach the car wash, and his spot checks during the day indicated an average of seven cars in line waiting to be washed. What was the processing rate for his new crew that day?

• A) less than or equal to 2.0 minutes per car
• B) greater than 2.0 but less than or equal to 3.0 minutes per car
• C) greater than 3.0 but less than or equal to 4.0 minutes per car
• D) greater than 4.0 minutes per car

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Definitions:

Par Value

Par value is the face value of a bond or stock as stated by the issuing company, which does not necessarily reflect its market value.

Convertibles

Securities, typically bonds or preferred shares, that can be converted into a predetermined number of common shares at the option of the holder.

Call Protection

An initial period during which a callable bond may not be called.