A website manager has noticed that during the evening hours, about 3 people per minute check out
Question:
a) What model might you suggest to model the number of purchases per minute?
b) What model would you use to model the time between events?
c) What is the mean time between purchases?
d) What is the probability that the time to the next purchase will be between 1 and 2 minutes?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
Question Posted: