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Suppose That the Waiting Time for a Pizza to Be

question 52

Essay

Suppose that the waiting time for a pizza to be delivered to an individual's residence has been found to be normally distributed with a mean of 30 minutes and a standard deviation of 8 minutes. What is the probability that a randomly selected individual will have a waiting time
-No more than 22 minutes


Definitions:

Average Operating Assets

The average value of the assets used in the operations of a business over a specific period.

Net Operating Income

The total profit of a company after operating expenses are subtracted from gross profit.

ROI

Return on Investment, a performance measure used to evaluate the efficiency or profitability of an investment relative to its cost.

Contribution Margin Ratio

The percentage of sales revenue remaining after variable costs are subtracted, indicating how much contributes to covering fixed costs and generating profit.

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