TABLE 2-5 The Following Are the Duration in Minutes of a Sample

question 118

Multiple Choice

TABLE 2-5
The following are the duration in minutes of a sample of long-distance phone calls made within the continental United States reported by one long-distance carrier.
-Referring to Table 2-5, what is the cumulative relative frequency for the percentage of calls that lasted under 20 minutes?

• A) 0.10
• B) 0.59
• C) 0.76
• D) 0.84

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Definitions:

Negative Externality

A cost that affects a party who did not choose to incur that cost, often associated with environmental pollution.

Noxious Odors

Unpleasant or harmful smells that can cause discomfort or health issues.

External Costs

Costs resulting from an economic activity that affects third parties who did not choose to incur that cost.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return.