The Amount of Time Necessary for Assembly Line Workers to Complete

question 7

Short Answer

The amount of time necessary for assembly line workers to complete a product is a normal variable with a mean of 15 minutes and a standard deviation of 2 minutes.The probability is
that a product is assembled in between 16 and 21 minutes.

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Definitions:

Variable Cost

Variable cost refers to expenses that change directly with the level of production or business activity, such as raw materials and labor costs.

Fixed Cost

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

Work in Process-Department X

Inventory representing partially completed goods that are still in the production process within a specific department.

Goods in Process

Inventory items that are partially completed in the production process.