The Average Time a Subscriber Spends Reading the Local Newspaper

question 112

Multiple Choice

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. For the 10% who spend the most time reading the paper,how much time do they spend?

• A)11.72
• B)28.52
• C)86.28
• D)69.48

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Definitions:

Employer-Employee Relationship

The formal association between a company or organization and its workers, governed by an employment contract and labor laws.

Take-Home Pay

The amount of income left after deductions such as taxes and retirement contributions.

Fringe Benefits

Additional compensation provided to employees beyond their normal wages or salaries, such as health insurance, retirement plans, and paid time off.

Monopsonist

A market condition where there is only one buyer in the market, giving the buyer significant power over sellers in terms of price and terms.