Orange Lake Resort is a major vacation destination near Orlando, Florida, adjacent to the Disney theme parks.

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Orange Lake Resort is a major vacation destination near Orlando, Florida, adjacent to the Disney theme parks. Because the property consists of 1,450 acres of land, Orange Lake provides shuttle buses for visitors who need to travel within the resort. Suppose the wait time for a shuttle bus follows the uniform distribution with a minimum time of 30 seconds and a maximum time of 9.0 minutes.

a. What is the probability that a visitor will need to wait more than 3 minutes for the next shuttle?

b. What is the probability that a visitor will need to wait less than 5.5 minutes for the next shuttle?

c. What is the probability that a visitor will need to wait between 4 and 8 minutes for the next shuttle?

d. Calculate the mean and standard deviation for this distribution.

e. Orange Lake has a goal that 80% of the time, the wait for the shuttle will be less than 6 minutes. Is this goal being achieved?
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...
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Business Statistics

ISBN: 9780321925121

2nd Edition

Authors: Robert A. Donnelly

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