The waiting time for rides at an amusement park has an Exponential distribution with average waiting time
Question:
a. If a person rides 5 rides, what is the expected amount of time that the person spends waiting in line?
b. If a person rides 5 rides, what is the standard deviation of the time that the person spends waiting in line?
c. Find the probability that the person spends more than 1 hour altogether while waiting for two rides (i.e., that their actual waiting time is longer than the expected waiting time).
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For 
Introduction to Probability
ISBN: 978-0716771098
1st edition
Authors: Mark Daniel Ward, Ellen Gundlach
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