Before a New Phone System Was Installed, the Amount a Company

question 111

Multiple Choice

Before a new phone system was installed, the amount a company spent on personal calls followed a normal distribution with an average of $900 per month and a standard deviation of $50 per month. Refer to such expenses as PCE's (personal call expenses) . Using the distribution above, what is the probability that during a randomly selected month PCE's were between $775.00 and $990.00?

• A) .0001
• B) .9999
• C) .9579
• D) .0421

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Definitions:

Insolvency

Refers to the financial condition where an entity can not meet its debt obligations as they come due.

Consecutive Years

Years that follow one after another without interruption.

Involuntary Bankruptcy

A legal process initiated by creditors to force a debtor into bankruptcy proceedings, in order to recoup debts owed by liquidating the debtor's assets.

Nonprofit Organizations

Organizations that operate for charitable, educational, cultural, scientific, or social welfare purposes rather than for profit.