The amount that households pay service providers for access to the Internet varies depending on the speed the household is looking for. It is determined the distribution is slightly skewed right with a mean monthly fee is $38 and a standard deviation of $10. Many households pay about $20 for limited broadband speed or about $40 for faster broadband speed, but some pay much more for lighting fast broadband speeds. a) Can you find the probability of a randomly selected household paying more than $40 for internet? Explain. b) AT&T has just released a new coverage area. AT&T hopes the new coverage area will help them increase their monthly profit by a minimum of $2000. What is the probability that the total amount of profit for 50 randomly selected households exceeds $2000?
The amount that households pay service providers for access to the Internet varies depending on the speed the household is looking for. It is determined the distribution is slightly skewed right with a mean monthly fee is $38 and a standard deviation of $10. Many households pay about $20 for limited broadband speed or about $40 for faster broadband speed, but some pay much more for lighting fast broadband speeds.
a) Can you find the
b) AT&T has just released a new coverage area. AT&T hopes the new coverage area will help them increase their monthly profit by a minimum of $2000. What is the probability that the total amount of profit for 50 randomly selected households exceeds $2000?
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