# Question: According to Daily Mail February 28 2012 there was an

According to Daily Mail (February 28, 2012), there was an average of one complaint every 12 seconds against Britain's biggest banks in 2011. It is reasonable to assume that the time between complaints is exponentially distributed.

a. What is the mean time between complaints?

b. What is the probability that the next complaint will take less than the mean time?

c. What is the probability that the next complaint will take between 5 and 10 seconds?

a. What is the mean time between complaints?

b. What is the probability that the next complaint will take less than the mean time?

c. What is the probability that the next complaint will take between 5 and 10 seconds?

## Answer to relevant Questions

Customers make purchases at a convenience store, on average, every six minutes. It is fair to assume that the time between customer purchases is exponentially distributed. Jack operates the cash register at this store. a. ...A florist makes deliveries between 1:00 pm and 5:00 pm daily. Assume delivery times follow the continuous uniform distribution. a. Calculate the mean and the variance of this distribution. b. Determine the percentage of ...A new water filtration system is sold with a 10-year warranty that includes all parts and repairs. Suppose the life of this water filtration system is normally distributed with mean and standard deviation of 16 and 5 years, ...The mileage (in 1,000s of miles) that car owners get with a certain kind of radial tire is a random variable having an exponential distribution with a mean of 50. In addition to providing the answer, state the relevant Excel ...In the introductory case of Chapter 3 we discussed Vanguard’s Precious Metals and Mining fund (Metals) and Fidelity’s Strategic Income fund (Income), which were two top-performing mutual funds for the years 2000 through ...Post your question