The Amount of Time Necessary for Assembly Line Workers to Complete

question 114

Short Answer

The amount of time necessary for assembly line workers to complete a product is a normal random variable with a mean of 15 minutes and a standard deviation of 2 minutes.The probability is _________ that a product is assembled in less than 12 minutes.

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Definitions:

Economic Approach

A method of analysis that focuses on the principles of supply and demand, cost-benefit analysis, and the rational behavior of individuals within the economy.

Profit

The financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes associated with sustaining the activity.

Top-Down Leadership

A leadership approach where decisions and policies are initiated by the upper levels of management and then cascaded down through the ranks.

Culture of the Organization

The shared norms, values, and practices that guide and shape behaviors and attitudes within a company or institution.