THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 210

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The length of time it takes to be seated at a local restaurant on Friday night is normally distributed with a mean of 15 minutes and a standard deviation of 4.75 minutes.
-What is the probability that you have to wait more than 20 minutes to be seated?

• A)0.1761
• B)0.3531
• C)0.6761
• D)0.1469

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Definitions:

Production

The process of creating goods and services through the combination of labor, materials, and technology.

Manufacturing Overhead

All indirect costs associated with the production process, excluding direct materials and direct labor costs.

Budgeted Fixed

Refers to the portion of a budget that represents fixed costs, which do not change with the level of activity within a certain range.

Manufacturing Overhead Applied

The portion of production overhead costs assigned to each unit of product based on a predetermined overhead rate, including indirect costs like utilities and rent.