SCENARIO 2-5
the Following Are the Duration in Minutes of a Sample

question 154

Multiple Choice

SCENARIO 2-5
The following are the duration in minutes of a sample of long-distance phone calls made within the continental United States reported by one long-distance carrier. $$\begin{array} { l c } \text { Time(inMinutes) } & \begin{array} { c } \text { Relative } \\\text { Frequency }\end{array} \\\hline 0 \text { but less than } 5 & 0.37 \\5 \text { but less than } 10 & 0.22 \\10 \text { but less than } 15 & 0.15 \\15 \text { but less than } 20 & 0.10 \\20 \text { but less than } 25 & 0.07 \\25 \text { but less than } 30 & 0.07 \\30 \text { or more } & 0.02\end{array}$$
-Referring to Scenario 2-5, if 100 calls were randomly sampled, how many calls lasted 15 minutes or longer?

• A)10
• B)14
• C)26
• D)74

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Definitions:

Inventory Cost

The total expense incurred in storing and maintaining goods that are kept for sale, including costs related to warehousing, depreciation, obsolescence, and shrinkage.

Facility Cost

The total expense incurred from operating a building or service location, including maintenance, utilities, rent, and other associated costs.

Reorder Interval

The time between placing orders for inventory replenishment to ensure stock levels remain adequate.

Inventory Cost

Expenses related to holding and managing inventory, including storage, insurance, taxes, and costs associated with unsold or obsolete items.