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At a local manufacturing plant, employees must complete new machine set-ups within 30 minutes. New machine set-up times can be described by a Normal model with a mean of 22 minutes and a standard deviation of four minutes.
a. What percent of new machine set-ups take more than 30 minutes?
b. The typical worker needs five minutes to adjust to their surroundings before beginning their duties. What percent of new machine set-ups are completed within 25 minutes to allow for this?
Banks
Financial institutions licensed to receive deposits and make loans, and offer various other financial services, such as wealth management and currency exchange.
Profits
The financial gain obtained when the revenues generated from business activities exceed the expenses, taxes, and costs incurred in producing those revenues.
Financial Markets
Marketplaces where individuals and entities can trade financial securities, commodities, and other fungible assets at prices determined by supply and demand.
Saver
A saver is an individual or entity that allocates a portion of income or resources for future use rather than immediate consumption, often with the aim of earning interest or investment income.
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