It is assumed that the time customers spend in a record store is uniformly distributed between...
It is assumed that the time customers spend in a record store is uniformly distributed between 3 and 12 minutes. Based on this information, what is the probability that a customer will spend more than 9 minutes in the record store?
A) 0.33
B) 0.1111
C) 0.25
D) 0.67
The price of a bond is uniformly distributed between $80 and $85.
What is the probability that the bond price will be at least $83?
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It is assumed that the time customers spend in a record store is uniformly distributed between...
1. The price of a bond is uniformly distributed between $80 and $85. (Please show work)...
1. The price of a bond is uniformly distributed between $80 and $85. (Please show work) a. What is the probability that the bond price will be at least $83? b. Determine the expected price of the bond. c. Compute the standard deviation for the bond price.
Hank would also like to know how long customers are spending in his propane store on...
Hank would also like to know how long customers are spending in his propane store on a given day. Preliminary measures indicate a customer spends an average of 28 minutes in the store. a. What is the probability that a customer will spend 5 minutes or less in the store? b. What is the probability that a customer will spend more than 30 minutes in the store? c. What is the likelihood that a customer will spend at least an...
The interarrival times ∆t, for customers into the store are assumed to be all normally distributed...
The interarrival times ∆t, for customers into the store are assumed to be all normally distributed with mean μ = 8 minutes and standard deviation σ = 2 minutes, so that ∆t ∼ N(μ, σ2) = N(8, 4), in units of minutes. a. Compute Pr(∆t < 0) and use this to argue that it is unnecessary to truncate ∆t so that it is always non-negative. b. Compute the probability that the 16th and the 9th customer arrive within 55 minutes...
The time to fly between New York City and Chicago is uniformly distributed with a minimum...
The time to fly between New York City and Chicago is uniformly distributed with a minimum of 90 minutes and a maximum of 150 minutes. What is the probability that a flight is more than 140 minutes?
Consider the case of a grocery store where the interarrival time between two customers consecutively entering...
Consider the case of a grocery store where the interarrival time between two customers consecutively entering the store is known to be exponentially distributed. Previously collected data shows that 1800 customers were recorded to have entered the store in 300 hours. Answer the following: (a) What is the probability density function for the inter-arrival time (in minutes) between two consecutively arriving customers? (15) (b) What is the probability that the next customer will arrive AFTER five minutes? (10) (c) What...
The time it takes a bank teller to serve a customer is uniformly distributed between 2...
The time it takes a bank teller to serve a customer is uniformly distributed between 2 and 6 minutes. A customer has just stepped up to the window, and you are next in line. a. What is the expected time you will wait before it is your turn to be served? b. What is the probability that you wait less than 1 minute before being served? c. What is the probability that you wait between 3 and 5 minutes before...
The number of marshmallows in a 24 oz. box of Lucky Charms Cereal is normally distributed...
The number of marshmallows in a 24 oz. box of Lucky Charms Cereal is normally distributed with a mean of 100 marshmallows and a standard deviation of 15 marshmallows. A) What is the probability that a box of cereal will have no more than 110 marshmallows in it? a. 0.75 b. 0.68 c. 0.83 d. 0 B) What is the probability that a box of cereal will have between 80 to 120 marshmallows? a. 0.32 b. 0.67 c. 0.82 d....
The time to process orders at the service counter of a pharmacy store are exponentially distributed...
The time to process orders at the service counter of a pharmacy store are exponentially distributed with mean 5 minutes. Suppose that 100 customers visit the counter in a day. Use CLT to estimate the following. (1) What is the probability that the total service time of the 100 customers does not exceed 10 hours? (2) What is the probability that at least half of the 100 customers need to wait more than 3.47 minutes? (Note: to simply the calculations,...
Suppose that the commuting time on a particular train is uniformly distributed between 67 and 87...
Suppose that the commuting time on a particular train is uniformly distributed between 67 and 87 minutes. a. What is the probability that the commuting time will be less than 72 minutes? b. What is the probability that the commuting time will be between 70 and 82 minutes? c. What is the probability that the commuting time will be greater than 84 minutes? d. What are the mean and standard deviation of the commuting time?
Suppose that the commuting time on a particular train is uniformly distributed between 36 and 56...
Suppose that the commuting time on a particular train is uniformly distributed between 36 and 56 minutes. a. What is the probability that the commuting time will be less than 43 minutes? b. What is the probability that the commuting time will be between 44 and 52 minutes? c. What is the probability that the commuting time will be greater than 47 minutes? d. What are the mean and standard deviation of the commuting time?
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