Question
News magazines have two types of customers: newsstand customers and subscription customers. The ages of the newsstand customers are normally distributed with a mean of
News magazines have two types of customers: newsstand customers and subscription customers. The ages of the newsstand customers are normally distributed with a mean of 23.1 years and a standard deviation of 2.4 years. The ages of the subscription customers are normally distributed with a mean of 25.7 years and a standard deviation of 3.2 years. It has been estimated that 36% of the magazine's customers are between 19 and 24 years of age. Suppose the following values are known:
NORMDIST(24, 23.1, 2.4, 1) = 0.65
NORMDIST(19, 23.1, 2.4, 1) = 0.04
NORMDIST(24, 25.7, 3.2, 1) = 0.30
NORMDIST(19, 25.7, 3.2, 1) = 0.02
Then, the percentage of the magazine's customers who are subscription customers is approximately:
A) 75%
B) 25%
C) 85%
D) 15%
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