You visit a friend who lives in the suburbs of Chicago. You decide to take a commuter

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You visit a friend who lives in the suburbs of Chicago. You decide to take a commuter train into the city. Your friend says that a train stops at the station every 30 minutes. Without any more information, you logically apply the uniform probability distribution and determine that you will wait between 0 and 30 minutes for a train with a probability of 1.00. You arrive at the train station and start timing your wait time. A train arrives 35 minutes later. Given your friend’s information, what was the probability that a train arrives in 35 minutes or more? What conclusion can you make about your friend’s information?

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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