The Time Required for a Citizen to Complete the 2010

question 58

Multiple Choice

The time required for a citizen to complete the 2010 U.S. Census "long" form is normally distributed with a mean of 40 minutes and a standard deviation of 10 minutes. The slowest 10 percent of the citizens would need at least how many minutes to complete the form?

• A)27.2
• B)35.8
• C)52.8
• D)59.6 Using Excel =NORM.INV(.90,40,10) = 52.82, or 40 + 1.282(10) = 52.82 using AppendixC.

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Definitions:

Happy Hour

A promotional event typically held in bars and restaurants offering discounted prices on drinks and sometimes food during specific hours.

Market Competitiveness

A measure of a company's ability to compete in a particular market based on factors such as price, product quality, and customer service.

Market Growth Potential

The capacity for expansion or increased sales within a market, considering current trends and consumer demand.

Product Substitutes

Alternative goods or services that consumers can choose as replacements for another item, usually because they fulfill similar needs or functions.