3. Suppose you are the main actress in the movie: The Devil Wears Prada. In the movie,...
Question:
3. Suppose you are the main actress in the movie: The Devil Wears Prada. In the movie, you are the second assistant of Miranda Priestly, the editor in chief of a fashion magazine called Runway, and your main task is to answer the phones. Since Miranda is so tough and she doesn’t want any phone calls to be missed, you have to stay at your desk. One day, however, you feel bursting and you really want to go to the restroom. Suppose X is the time between two calls, therefore, X follows an exponential distribution. And you know that:
(i). The average time between two phone calls is 10 minutes.
(ii). 3 minutes have passed since the last call.
(iii). You could leave your desk, go to the restroom, and come back in 1 minute.
By using what you have known so far, answer the following questions:
(a). Find the probability that no phone calls come within 1 minute from now (Note: from now means you are given the condition that 3 minutes have passed since the last call). (10pts)
(b). Will you leave the desk and go to the restroom at this time? Make your decision based on your answer in (b). (3pts)
Business Law Text and Cases
ISBN: 978-0324655223
11th Edition
Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F