A Major Cell Phone Service Provider Has Determined That the Number

question 87

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. As a promotion, the company plans to hold a drawing to give away one free vacation to Hawaii for a customer who uses between 400 and 402 minutes during a particular month. Based on the information provided, what proportion of the company's customers would be eligible for the drawing?

• A) Approximately 0.1026
• B) About 0.004
• C) Approximately 0.2013
• D) About 0.02

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Definitions:

Premium Bonds

Government or corporate bonds that are sold at a price above their face value due to their high credit quality or favorable interest yield.

Discount Bonds

Bonds sold for less than their face value, offering investors the difference as profit upon maturity.

BBB Credit Rating

This is a credit score indicating that the borrower has a good credit standing, typically associated with medium-grade investment securities with a moderate risk of default.

B Credit Rating

A rating denoting a relatively high risk level for investors or lenders, indicating that the entity has significant credit risk but is not in default.