During the hours of 3 P.M. to 10 P.M., the average (or expected) time it takes to

Question:

During the hours of 3 P.M. to 10 P.M., the average (or expected) time it takes to serve the steady stream of ticket buyers at the ticket window of the Rialto Multiplex Theater is 45 seconds per customer. All the conditions for a Poisson distribution are met.

a. Use the exponential distribution to determine the probability that it will take at least two minutes to serve the next customer.

b. Use the exponential distribution to determine the probability that it will take less than 30 seconds to serve the next customer.

c. Use the exponential distribution to determine the probability that it will take between 20 seconds and one minute to serve the next customer.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...