This exercise uses the normal probability density function and
requires the use of either technology or a table of values of the
standard normal distribution.
The cash operating expenses of the regional phone companies during
the first half of 1994 were distributed about a mean of $29.94 per
access line per month, with a standard deviation of $2.35. Company
A's operating expenses were $29.00 per access line per month.
Assuming a normal distribution of operating expenses, estimate the
percentage of regional phone companies whose operating expenses
were closer to the mean than the operating expenses of Company A
were to the mean. (Round your answer to two decimal places.)
Get Answers For Free
Most questions answered within 1 hours.