Wendy's restaurant has been recognized for having the fastest average service time among fast food restaurants. In a benchmark study, Wendy's average service time of 2.2 minutes was less than those of Burger King, Chick-fil-A, Krystal, McDonald's, Taco Bell, and Taco John's (QSR Magazine website, December 2014). Assume that the service time for Wendy's has an exponential distribution.
a. What is the probability that a service time is less than or equal to one minute (to 4 decimals)?
b. What is the probability that a service time is between 30 seconds and one minute (to 4 decimals)?
c. Suppose a manager of a Wendy's is considering instituting a policy such that if the time it takes to serve you exceeds five minutes, your food is free. What is the probability that you will get your food for free (to 4 decimals)?
Exponential distribution: It is explains about the time between events or distance between two random events are termed as the exponential distribution. Moreover, the occurrence of the events is continuous and independent. Also, the average rate is constant.
Let X be the continuous random variable with the parameter . Then, the probability density function X is,
The expected value of random variable X is given as,
The cumulative distribution function of X is,
Lack on memory property:
The probabilities under different conditions can be obtained using the formula given below:
• Formula for finding the value of .
• Formula for finding the value of .
(a)
The probability that a service time is less than or equal to one minute is obtained as shown below:
Let the random variable X denotes the service time and it is exponentially distributed with parameter.
From the information, the average service time is 2.2 minutes. If X follows exponential distribution with parameter , then mean is
.
The parameter is,
The distribution is,
The required probability is,
(b)
The probability that a service time is between 30 seconds and one minute is obtained as shown below:
Let the random variable X denotes the service time and it is exponentially distributed with parameter.
From the information, the average service time is 2.2 minutes. The service time is 30 seconds or 0.5 minutes and 1 minute.
The required probability is,
(c)
The probability if the time to serve exceeds five minutes is,
The probability that a service time is less than or equal to one minute is 0.3653.
Wendy's restaurant has been recognized for having the fastest average service time among fast food restaurants. In a be...
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QSR Magazine studied drive through times for fast-food restaurants and ABC fast-food restaurant’s had the best time with a mean time spent in the drive-through of 138.5 seconds. Assuming drive-through times are normally distributed with a standard deviation of 29 seconds, answer the followings, What is the probability that a randomly selected car will get thorough ABC’s drive-through in less than 100 seconds? What is the probability that a randomly selected car will spend more than 160 seconds in ABC’s...
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The manager of a fast-food restaurant determines that the average time that her customers wait for service is 5.5 minutes. (a) Find the probability that a customer has to wait more than nine minutes. (Round your answer to three decimal places.) (b) Find the probability that a customer is served within the first five minutes. (Round your answer to three decimal places.) (c) The manager wants to advertise that anybody who isn't served within a certain number of minutes gets...
Marketing Plan: Product Identification and SWOT
Analysis
What needs to be done. The focus of your marketing plan can be a
new product/service idea of your own or an existing product/
service.
I have chosen to do a marketing product and SWOT analysis for the
company Walmart.
Here is an example but in of McDonald's I'm doing the company
WALMART
About WALMART should contain paragraphs that cover
like the example pictures above. Should include
The SWOT analysis that I'm doing...
need help with 18-22 marketing questions
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5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics for Business What is the probability that it takes more than 2.5 minutes to service a customer at the drive-through lane? b. a. What percent of customers at the drive-through lane will take between 1 to 3 minutes to service? Part B 1. A simple random sample of 50 customers...