At a Certain Workstation in an Assembly Line, the Time

question 77

Multiple Choice

At a certain workstation in an assembly line, the time required to assemble a component is exponentially distributed with a mean time of 10 minutes.Find the probability that a component is assembled in 7 minutes or less?

• A)0.349
• B)0.591
• C)0.286
• D)0.714
• E)0.503

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Definitions:

Potential Creditors

Individuals or institutions that may lend money or extend credit to a company or individual.

Present Value

The existing financial estimate of a future quantity of money or stream of cash flows, with a certain return rate taken into account.

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as part of a retirement strategy.

Compound Interest

Interest that accumulates on the initial amount invested and on the interest that has previously been added to that amount.