At Netflix, the Time It Takes for a Returned DVD

question 63

Multiple Choice

At Netflix, the time it takes for a returned DVD to be re-filed and for the next DVD to be submitted for shipping to the customer follows a bell-shaped pattern, with a mean of 194 seconds and a standard deviation of 42 seconds.In 25% of the cases, "turnaround" time is less than how many seconds.

• A)156.4
• B)165.9
• C)122.3
• D)222.1
• E)219.5

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Definitions:

Average Total Cost

The total cost of production divided by the total quantity produced, indicating the cost per unit of output.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the true profitability of a firm.

Competitive Firm

A company that operates in a market where there are many buyers and sellers, and no single entity can control the prices.

Purely Competitive

An ideal market scenario where there are many sellers and buyers, each small relative to the market, products are homogeneous, and there is free entry and exit from the market.