The Amount of Time Required for an Oil and Filter

question 17

Short Answer

The amount of time required for an oil and filter change on a car is normally distributed with a mean of 45 minutes and a standard deviation of 10 minutes.A random sample of 16 cars is selected.
-So,90% of the sample means will be greater than what value?

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Definitions:

Useful Life

The estimated period that an asset is expected to be usable for its intended purpose.

Depreciation Expense

The allocation of the cost of an asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Straight-Line Basis

A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Salvage Value

The expected sale value of an asset upon reaching the end of its serviceable life.