If X, the Time (In Minutes)to Complete an Change Job $\le$

question 52

Multiple Choice

If x, the time (in minutes) to complete an change job at a certain auto service station, is uniformly distributed over the interval 20 to 30, inclusively (20 $\le$ x $\le$ 30) , then the probability that an oil change job is completed in 21.75 to 24.25 minutes, inclusively, i.e., P(21.75 $\le$ x $\le$ 24.25) is ___.

• A)0.250
• B)0.333
• C)0.375
• D)0.000
• E)1.000

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Definitions:

Long-run Total Costs

The total costs associated with the production of a certain level of output when all inputs can be varied, emphasizing the period in which no costs are fixed.

Diseconomies of Scale

Diseconomies of scale occur when a company or business grows to such a point that the costs per unit increase, opposite of achieving cost efficiencies through expansion.

Specialization

The process of focusing effort and resources on a limited number of activities to increase efficiency and productivity.

Constant Returns to Scale

A situation in which increasing the amount of inputs in production results in a proportional increase in output.