An electronic product takes an average of 3hours to move through an asset line. If the standard deviation is 0.6 hours , what’s the probability that an item will take between 3 and 4.8 hours to move

Answer 1

With the mean being at 3, and each standard deviation being at 0.6 from that mean, then 1 standard deviation is at 3.6, 2 standard deviations is at 4.2, and 3 standard deviations is at 4.8.

You can use the following as a rule of thumb:

1 standard deviation accounts for 34.1%, the 2nd standard deviation accounts for 13.6% and the 3rd standard deviation accounts for 2.2% so from the mean to 3 standard deviations is 34.1 + 13.6 + 2.2 = 49.9% meaning the probability of the item taking between 3 and 4.8 hours is 49.9%