The Average Time a Subscriber Spends Reading the Local Newspaper

question 70

Essay

The average time a subscriber spends reading the local newspaper is 49 minutes. Assume the standard deviation is 16 minutes and that the times are normally distributed.
-What is the probability a subscriber will spend at least 1 hour reading the paper?

---

Definitions:

Consequential Damages

Indirect damages or losses that occur as a natural consequence of an action, usually beyond the immediate physical damage or loss.

Specific Performance

A legal remedy that compels a party to execute their part of a contract, rather than providing monetary compensation for failing to fulfill the contract terms.

Reformation

The process of making changes to a legal document or contract to correct errors or misrepresentations.

Condition Precedent

A clause in a contract that requires a specific event or action to take place before the contract becomes binding on the parties involved.