IPhone Statusbar signal bars?

Guys all I want to know are the meaning of the icons on the Statusbar on my iPhone 5. There's the signal bar then it says Verizon and then LTE. Does the signal bars have anything to do with my Internet (LTE) or do the signal bars just mean calling and messaging?

The 5 bars are for cell signal (including text messages).
The LTE is for the speed of internet you have. It doesn't show the exact signal strength.
LTE=fastest
3G=faster, defaults to this when LTE isn't supported in your area
E=Edge, slower and in places where 3G isn't supported
(small circle)=GPRS slowest data connection

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