A fast food restaurant has measured service time for customers waiting in line, and the service time

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A fast food restaurant has measured service time for customers waiting in line, and the service time follows an exponential distribution with a mean waiting time of 1.9 minutes. The restaurant has a guarantee that if customers wait in line for more than 5 minutes, their meal is free. What is the probability that a customer will receive a free meal?

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Principles Of Finance

ISBN: 9798439388899

1st Edition

Authors: Julie Dahlquist, Rainford Knight

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