A Catalog Company That Receives the Majority of Its Orders

question 31

Multiple Choice

A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes. What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?

• A) 0.22313
• B) 0.51342
• C) 0.48658
• D) 0.77687

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Definitions:

Population

In biology, it refers to all the organisms of the same group or species who live in a particular geographical area and are capable of interbreeding.

Monozygotic Twins

Twins that result from the division of a single fertilized egg and share all of their genetic material, often referred to as identical twins.

Similar

Having likeness or resemblance, especially in terms of qualities or characteristics.

Intelligence

The skill to assimilate, grasp, and implement insights, tackle challenges, and accommodate to unfamiliar conditions.