Every Saturday morning between 9:00 am and 10:00 am, customers, on average, arrive at a local coffee
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Every Saturday morning between 9:00 am and 10:00 am, customers, on average, arrive at a local coffee shop every 1.2 minutes, and the customer arrival follows an exponential distribution. Use Analysis ToolPak or R, both with a seed of 1, to generate 500 trials to simulate the time between customer arrivals and report the sample mean and the standard deviation. Repeat the simulation with 1,000 trials and compare the new sample mean and the standard deviation with the theoretical values.
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Related Book For
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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