Instruction 2-5
the Following Are the Durations in Minutes of a Sample

question 166

Multiple Choice

Instruction 2-5
The following are the durations in minutes of a sample of long-distance phone calls made within Australia reported by one long-distance carrier.
$$\begin{array}{l}\begin{array} { l c } &\text { Relative }\\\text { Time (in Minutes) } & \text { Frequency } \\\hline 0 \text { but less than } 5 & 0.37 \\5 \text { but less than } 10 & 0.22 \\10 \text { but less than } 15 & 0.15 \\15 \text { but less than 20 } & 0.10 \\\text { 20 but less than 25 } & 0.07 \\25 \text { but less than } 30 & 0.07 \\30 \text { or more } & 0.02\end{array}\end{array}$$
-Referring to Instruction 2-5,if 10 calls lasted 30 minutes or more,how many calls lasted less than 5 minutes?

• A)10
• B)185
• C)500
• D)295

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Definitions:

Carrying Costs

The expenses incurred by holding inventory, including storage, insurance, and taxes, over a certain period.

Cash Cycle

A business concept that describes the process of converting resources into cash flows, from purchasing inventory to collecting revenue from customers.

Inventory Period

The average time it takes for a company to turn its inventory into sales, indicating the efficiency of inventory management.