THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 50

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The life of a new type of light bulb is uniformly distributed between 1,200 and 1,600 hours.
-What is the probability that a randomly-selected light bulb burns out in less than 1,500 hours?

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Definitions:

Departmental Expenses

Costs that are directly incurred by a specific department within an organization.

Indirect Expenses

Expenses incurred that are not directly tied to a specific product or service but are necessary for running the business, such as utilities or rent.

Budget Performance Report

A financial report comparing budgeted amounts to actual amounts for revenues, expenditures, and other financial elements over a period.

Cost Center Manager

An individual responsible for managing a segment of a business that does not directly generate revenue, focusing on controlling costs instead.