Suppose That the Time Needed to Complete a Final Exam

question 60

Essay

Suppose that the time needed to complete a final exam is normally distributed with a mean of 85 minutes and a standard deviation of 18 minutes.
a. What is the probability that the total time taken by a group of 100 students will not exceed 8200 minutes?
b. What assumption did you have to make in your computations in part (a)?

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.