Use the Following Information for the Question

question 51

Short Answer

Use the following information for the question. On a busy day, the average roller coaster wait time at a large amusement park is 27 minutes. Suppose the standard deviation of wait time is 11.9 minutes and the distribution of wait times is approximately normally distributed.
-To improve customer satisfaction, the amusement park manager has decided to give food coupons to customers with long wait times. The manager decides to give the coupons to the top 10% of people waiting the longest. What is the minimum wait time for the top 10%? Round to the nearest tenth of a minute.

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Definitions:

Repossession

The process by which a creditor takes back property from the borrower due to failure to meet the repayment terms of the loan.

Purchase-Money Security Interest

A legal claim granted to lenders over items purchased, serving as collateral for the loan used to purchase the goods.

Possession Of Collateral

Holding or control over property or assets pledged as security for a loan or obligation.

Private Sale

A transaction of goods or property conducted directly between individuals or parties without the involvement of a public auction or open market.