The Amount of Time Workers Spend Commuting to Their Jobs

question 179

Multiple Choice

The amount of time workers spend commuting to their jobs each day in a large metropolitan city has a mean of 70 minutes and a standard deviation of 20 minutes. Assuming the distribution of commuting times is known to be moundshaped and symmetric, what percentage of these commuting times are between 50 and 110 minutes?

• A) approximately 68%
• B) approximately 95%
• C) approximately 97.5%
• D) approximately 81.5%

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Definitions:

Price-sensitive

Describes consumers or markets that are highly responsive to changes in prices, where demand significantly fluctuates with price adjustments.

Family Brand

A firm’s own corporate name used to brand its product lines and products.

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The value a consumer believes a product or service has, based not only on its actual utility but also on intangible factors.

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