Question: This exercise uses the normal probability density function and requires the use of either technology or a table of values of the standard normal distribution.

This exercise uses the normal probability density function and requires the use of either technology or a table of values of the standard normal distribution. The cash operating expenses of the regional phone companies during the first half of 1994 were distributed about a mean of $29.3 per access line per month, with a standard deviation of $2.25. Company N's operating expenses were $35.86 per access line per month in the first half of 1994. Estimate the percentage of regional phone companies whose operating expenses were higher than those of Company N. (Round your answer to two decimal places.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!