A Business Uses a 7-Point Scale About Satisfaction with the Services

question 34

Short Answer

A business uses a 7-point scale about satisfaction with the services it provides to clients. The ratings are normally distributed with a mean of 4.8 and a standard deviation of .5.
What percentage of clients rate their satisfaction above a 5? Above a 6? Above 4? Below 4? Use the normal curve table and include a sketch.

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Definitions:

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Effective Annual Rate

The real return on an investment, considering the effect of compounding interest over a period, typically one year.

Monthly Return

The investment profit or loss during a one-month period, often used to assess performance.

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit.