Subway Waiting Time

question 29

Short Answer

Subway Waiting Time
At a subway station the waiting time for a subway is found to be uniformly distributed between 1 and 5 minutes. ​ ​
-{Subway Waiting Time Narrative} What is the median waiting time for this subway?

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Definitions:

Tax Shifting

The transfer of the burden of a tax from the entity legally responsible for paying it to another party, often consumers, through higher prices.

Tax Evasion

The illegal practice of not paying taxes by not reporting income, reporting expenses not legally allowed, or by not paying taxes owed.

Corporate Profits Tax

A tax imposed on the income or profit earned by corporations.

Equilibrium

A state of balance or stability within a system, where all forces acting upon the system are equal and opposite, leading to no net change.