close....
it's Nyquist's law that says that a signal bandlimited to B
requires a sampling rate of 2B.
our sampling rate is 8kHz. ergo, our signal is limited to (a
theoretical maximum of) 4kHz.
Shannon's law tells us that the Capacity of our channel
(in bits/sec) is
C = B*log2(1 + SNR)
where our noise is (mostly) due to quantization (to 8 bits)
--jeff