Suppose the time between hits on an e commerce Web site follows the exponential distribution with a

Question:

Suppose the time between hits on an e commerce Web site follows the exponential distribution with a mean time of 2.7 minutes.

a. What is the probability that next hit on the Web site will occur within the next 5 minutes?

b. What is the probability that next hit on the Web site will occur within the next 2 to 6 minutes?

c. What is the probability that next hit on the Web site will occur after the next 3 minutes?

d. Use Excel to verify the results from parts a, b, and c.

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...