Subway Waiting Time

question 213

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 probability density function for this uniform distribution?

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Definitions:

Accessible

Refers to something that can be easily approached, entered, or used; in financial terms, it may refer to assets or funds that can be readily tapped or utilized.

Commercial Paper

Corporations issue this unsecured, short-term financial instrument to cover expenses related to payroll, accounts payable, and inventories.

Maturity

The time at which the principal or final payment of a financial instrument, such as a bond or loan, is due to be paid in full.

Interest Rate

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal, typically on an annual basis.