Find and Interpret the Area Under a Normal Curve

question 8

Multiple Choice

Find and Interpret the Area under a Normal Curve
-A new phone system was installed last year to help reduce the expense of personal calls that were being made by employees. Before the new system was installed, the amount being spent on personal calls followed a normal distribution with an average of $800 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 a randomly selected month had a PCE of between $675.00 and $890.00

• A) 0.9579
• B) 0.0421
• C) 0.9999
• D) 0.0001

Identify the types of questions used during an interview and their applications.

Know the ethical and legal considerations of conducting interviews.

Understand how to effectively use open-ended, closed-ended, and leading questions.

Grasp the responsibilities of a paralegal in the context of interviews.

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Definitions:

Maximum Profit Equilibrium

The point at which a firm achieves its highest level of profit given its production and cost constraints.

Price Labor

The cost associated with hiring workers or the wage that employers pay to their employees for their labor.

ATMs

Automated Teller Machines, devices that allow bank customers to perform financial transactions without the need for a branch representative.

Bank Tellers

Employees of a bank who deal directly with customers, handling transactions, cash checks, accept deposits, and provide account information.