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For a busy grocery store, all the spaces in its parking lot have a 2-hour time limit. The average shopping time of a customer at the store is 1 hour and 15 minutes. If the customer parks his/her vehicle over the 2 hour limit, he/she will get a parking ticket of $35. Assume that each customer's shopping time is independent from one another and all customers park in the lot.

a) Define a random variable for the grocery store customer's shopping time. Give the distribution and parameter(s) and state the support.

b) What is the probability that a customer gets a parking ticket?

c) Given that a customer has already shopped for 1 hour (and is still shopping), what's the probability that he/she gets a parking ticket?

d) Given that a customer did not receive a parking ticket, what is the probability that he/she parked for over 1 hour?

e) What is the expected daily revenue from parking tickets for a particular day with 1000 customers parking in the store's parking lot?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91112507

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