The Manager of a Fast-Food Restaurant Determines That the Average $5 \%$

question 142

Short Answer

The manager of a fast-food restaurant determines that the average time that her customers wait for service is 2 minutes. The manager wants to advertise that anybody who isn't served within a certain number of minutes gets a free hamburger. But she doesn't want to give away free hamburgers to more than $5 \%$ of her customers. What value of $x$ must she use in the advertisement "if you aren't served within $x$ minutes, you get a free hamburger"?

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Definitions:

Economic Performance

Economic performance refers to the evaluation of how effectively an economy or a specific entity manages its resources and meets its objectives, often measured in terms of productivity, efficiency, and growth.

Informational Needs

The specific data and insights required by individuals or organizations to make informed decisions.

Financial Accounting Standards Board

An independent, private-sector body that establishes and interprets Generally Accepted Accounting Principles (GAAP) in the United States.

IRS

The IRS (Internal Revenue Service) is the United States federal agency responsible for collecting taxes and administering the Internal Revenue Code.