The Amount of Time Necessary for Assembly Line Workers to Complete

question 43

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.So,60% of the products would be assembled within and minutes (symmetrically distributed about the mean).

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Definitions:

Effect on Profit

The impact that specific actions or events have on the net income of a company.

Trade Receivables

Amounts owed to a business by its customers following the sale of goods or services on credit.

Discounted Values

Discounted values are the present values of future cash flows, calculated using a discount rate to account for the time value of money.