Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Question: Bank tellers. I am the only bank teller on duty at my local bank. I need to run out for 10 minutes, but I don t want to miss any customers. Suppose the arrival of customers can be modeled by a Poisson distribution with mean 2 customers per hour.

a) What's the probability that no one will arrive in the next 10 minutes?

b) What's the probability that 2 or more people arrive in the next 10 minutes?

c) You've just served 2 customers who came in one after the other. Is this a better time to run out?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92551598
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Your firm is contemplating the purchase of a new 585000

Your firm is contemplating the purchase of a new $585,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $95,000 at the end of that time. ...

1 define and discuss how to develop the free cash flow

1. Define and discuss how to develop the Free Cash Flow forecast? 2. Define and discuss how to develop the Terminal Value? 3. Define and discuss how to develop the Discount Rate?

A sales table at anthonys department store contains a pile

A sales table at Anthony's Department Store contains a pile of sweaters, 19 medium size and 20 small size. A sweater is selected at random. Find the probability that it is a small size. Round your percentage to the tenth ...

A coin is randomly picked from a collection of 10 coins the

A coin is randomly picked from a collection of 10 coins, the ith coin having a probabiliity i/10 of coming up heads. The coin in then flipped repeatedly until a head appears. Let X be the number of flips necessary. Find ...

A student must answer 6 multiple choice questions for a

A student must answer 6 multiple choice questions for a test, but the student did not study well. There are 6 answers per question, but only one is correct. If the student randomly guesses on each questions, what is the ...

Alphonse contributes 542 per year at the end of each year

Alphonse contributes $542 per year at the end of each year to his pension plan. Assuming he can earn 6.62 per year from his plan, what is the total valve of his account at the end of 7 years?

A measurement of etch depth has standard deviation of 2 um

A measurement of etch depth has standard deviation of 2 um. The specifications are 150 to 200 um. If k = 6, what is the P/T ratio of the measurement? Please show the formula/steps taken to receive the answer.

1 out-of-state tuition and fees at the top graduate

1. Out-of-state tuition and fees at the top graduate schools of business can be very expensive, but the starting salary and bonus paid to graduates from many of these schools can be substantial. The following data show t ...

What are some ways being able to visually see data in a

What are some ways being able to visually see data in a graphic presentation beneficial?

Blooper industries must replace its magnoosium purification

Blooper Industries must replace its magnoosium purification system. Quick & Dirty Systems sells a relatively cheap purification system for $15 million. The system will last 5 years. Do-It-Right sells a sturdier but more ...

  • 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