If X, the Time (In Minutes)to Complete an Oil Change $\le$

question 105

Multiple Choice

If x, the time (in minutes) to complete an oil change job at a certain auto service station, is uniformly distributed over the interval 20 to 30, inclusively (20 $\le$ x $\le$ 30) , then the probability that an oil change job is completed in less than 17 minutes, i.e., P(x < 17) is ___.

• A)0.500
• B)0.300
• C)0.000
• D)0.250
• E)1.000

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Definitions:

Quick Assets

Liquid assets that can be quickly converted into cash without significantly affecting their value, such as marketable securities and accounts receivable.

Acid-Test Ratio

A financial metric used to determine a company's short-term liquidity by comparing its most liquid assets (excluding inventory) against its short-term liabilities.

Just-In-Time Inventory System

A supply chain management strategy aimed at reducing inventory costs by receiving goods only as they are needed in the production process.

Acid-Test

A liquidity ratio that measures a company's ability to pay off its current liabilities with quick assets without relying on the sale of inventory.