Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Suppose that a study conducted by the Department of Homeland Security discovered that the average time it took passengers to go through the customs process for international flights arriving at the Atlanta airport was 33 minutes. Assuming that the wait times are distributed according to a Poisson distribution, please answer the following;

a. What is the probability that a passenger gets through customs in more than 45 minutes?

b. What is the probability that a passenger gets through customs in less than 20 minutes?

c. What is the probability that a passenger gets through customs between 30 and 35 minutes?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91228511

Have any Question?


Related Questions in Microeconomics

Question for each of the following absolute values of price

Question: For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. In addition, determine what would ...

Question how managers cope with economics factors that may

Question: How managers cope with economics factors that may adversely impact their organizations, particularly in an international context. 200 works. The response must be typed, single spaced, must be in times new roman ...

Question markets are where people exchange information

Question: Markets are where people exchange information about potential transactions. If so, can advertising create economic value? Explain. Identify some other institutions whose effects on lowering information costs ar ...

Question every so often a disgruntled college graduate sues

Question: Every so often, a disgruntled college graduate sues her school on grounds that her tuition payments did not land her the good job she was expecting when she started there. Courts invariably throw out cases like ...

Question visit the competitive advantages page of the

Question: Visit the "Competitive Advantages" page of the Robert K. Greenleaf Center for Servant Leadership website and review the articles indicating ways that servant leadership helps organizations gain competitive adva ...

Questionnbsppeople join tennis clubs for a fixed fee per

Question:  People join tennis clubs for a fixed fee per year, which entitles them to play as much as they want without charge. Because people who pay these fees play more tennis than others (who can use free public court ...

Question suppose the government cuts corporate income taxes

Question: Suppose the government cuts corporate income taxes, hence boosting I. However, S has declined because the deficit has increased. Explain how the economy returns to equilibrium where I = S on an ex post basis. T ...

Question look anywhere around your home or office and you

Question: Look anywhere around your home or office and you are sure to find products from every corner of the world. Even products that may be labeled as "Made in (fill in the blank)" are generally assembled from compone ...

Question how can effective communication with people who

Question: How can effective communication with people who are different from us positively impact our personal identity? In what way does this affect our ability to understand other people's communication? Provide concre ...

Question describe the linkage between price elasticity of

Question: Describe the linkage between price elasticity of demand and total revenue using a demand curve. Use this linkage to explain the Clifton Suspension Bridge crossings toll charge rise in April 2014 and the First B ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved