Answered: A new phone system was installed last…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A new phone system was installed last year to help reduce the expense of personal calls that were being made by employees. Before the new system was installed, the amount being spent on personal calls follows a normal distribution with an average of $ 500

per month and a standard deviation of $50 per month. Refer to such expenses as PCE's (personal call expenses). Find the point in the distribution below which 2.5% of the PCE's fell.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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