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A company provides home internet networking services and promises customers to be compensated for a delayed service if the service calls cannot be resolved under three-fourths of an hour. Times for service calls is known to follow a normal distribution with a mean of 35 minutes and standard deviation of 10 minutes. If a service call is completed as promised on time, what is the probability that the service took 5 minutes more than the expected time?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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