A Major Cell Phone Service Provider Has Determined That the Number

question 72

Multiple Choice

A major cell phone service provider has determined that the number of minutes that its customers use their phone per month is normally distributed with a mean equal to 445.5 minutes with a standard deviation equal to 177.8 minutes. The company is thinking of changing its fee structure so that anyone who uses the phone less than 250 minutes during a given month will pay a reduced monthly fee. Based on the available information, what percentage of current customers would be eligible for the reduced fee?

• A) About 36.4 percent
• B) Approximately 52 percent
• C) About 86.6 percent
• D) About 13.6 percent

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Definitions:

Principal

The primary party or individual involved in a contract or agreement, often responsible for the obligations and benefits of the contract.

Authorized Transactions

Transactions that are approved or processed, especially in the context of financial dealings or other formal agreements.

Agent

A person or entity authorized to act on behalf of another person or entity, typically in commercial or legal matters.

Scope Of The Agency Relationship

The range of actions and decision-making authority granted to an agent by their principal.