The Time to Complete the Construction of a Soapbox Derby

question 35

Multiple Choice

The time to complete the construction of a soapbox derby car is normally distributed with a mean of three hours and a standard deviation of one hour. Find the probability that it would take exactly 3.7 hours to construct a soapbox derby car.

• A) 0.0000
• B) 0.5000
• C) 0.7580
• D) 0.2420

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Definitions:

Margin Of Safety

The difference between actual or expected sales and sales at the break-even point.

Actual

Pertaining to the real, recorded, or true values or outcomes, as opposed to estimated, planned, or theoretical figures.

Expected

Referring to what is considered likely or anticipated in terms of events, values, or outcomes.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit of a product.