In Melanie's Styling Salon,the Time to Complete a Simple Haircut

question 64

Multiple Choice

In Melanie's Styling Salon,the time to complete a simple haircut is normally distributed with a mean of 25 minutes and a standard deviation of 4 minutes.What percentage of customers require less than 32 minutes for a simple haircut?

• A)95.99 percent
• B)99.45 percent
• C)97.72 percent
• D)45.99 percent

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Definitions:

Classical Dichotomy

The theoretical separation of nominal and real variables in classical economics, suggesting that changes in the money supply only affect nominal variables.

Inflation Rate

An upward movement in the overall price level of goods and services in an economy over time.

Aggregate Demand

Aggregate request for products and services in an economy, measured at a particular general price level throughout a defined time interval.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, reflecting inflation or deflation.