An entrepreneur opened a small hardware store in a strip mall. During the first few weeks, business
Question:
An entrepreneur opened a small hardware store in a strip mall. During the first few weeks, business was slow, with the store averaging only one customer every 20 minutes in the morning. Assume that the random arrival of customers is Poisson distributed.
a. What is the probability that at least one hour would elapse between customers?
b. What is the probability that 10 to 30 minutes would elapse between customers?
c. What is the probability that less than five minutes would elapse between customers?
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1 customer20 minutes 1 1 a 1 hour interval x 0 3 because 1 hour 320 minute intervals P x x 0 e x e ...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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