A Call Center Receives Calls from Customers at a Rate

question 87

Short Answer

A call center receives calls from customers at a rate of 2 per min.The time between customer calls follows an exponential distribution.
(a)What is the probability that it takes 1/3 of a minute or less between consecutive customer calls?
(b)What is the probability that it takes 1/2 of a minute or more between consecutive customer calls?

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Definitions:

Mandated Projects

Projects that are required by legal or regulatory requirements, often for compliance with laws, regulations, or because of safety and welfare concerns.

Flotation Cost

Flotation cost refers to the total expenses incurred by a company in issuing new securities, including underwriting, legal, registration, and other associated fees.

Debt-Equity Ratio

An indicator of a corporation's use of debt financing, determined by dividing its overall debts by the equity of its shareholders.