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On Average,Caryl's School Bus Arrives on Time,although Sometimes It Is

question 16

Multiple Choice

On average,Caryl's school bus arrives on time,although sometimes it is a bit early or late.If the arrival times are distributed on a normal curve,which of the following statistics would enable Caryl to estimate the probability that her bus will arrive within 5 minutes of its scheduled arrival time on any given day?

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Definitions:

Fixed Costs

Costs that do not vary with the level of output produced by a firm, such as rent, salaries, and insurance premiums.

Profit

The financial gain obtained when the revenue from a business activity exceeds the expenses, costs, and taxes.

Variable Costs

Costs that change in proportion to the level of production or business activity, such as raw materials and direct labor.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, and insurance.

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