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

question 78

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,what is the cumulative relative frequency for the percentage of calls that lasted under 20 minutes?

• A)0.59
• B)0.10
• C)0.84
• D)0.76

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Definitions:

Interest-Rate Movements

Changes in the interest rate level determined by central banks that affect borrowing costs, investment returns, and economic activity across various sectors.

Rivalry

Competition between companies in the same industry aimed at achieving higher sales, market share, and recognition by consumers.

Market Share

The portion of a market controlled by a particular company, product, or brand, often expressed as a percentage of total sales.

Competitors

Other businesses or individuals that offer similar products or services within the same market.