An Important Part of the Customer Service Responsibilities of a Cable

question 127

Multiple Choice

An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired.Historically,the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day.For the first five troubles reported on a given day,what is the probability that all five will be repaired on the same day?

• A).0010
• B).6328
• C).9990
• D).2373

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Definitions:

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Real Rate of Return

The annual percentage growth rate of an investment adjusted for inflation, providing a more accurate measure of the investment's profitability.

Rate of Inflation

The pace at which the overall price level of goods and services increases, diminishing the buying power.