The Interval Between Patients Arriving at an Outpatient Clinic Follows

question 28

Short Answer

The interval between patients arriving at an outpatient clinic follows an exponential distribution with mean 15 minutes.What is the probability that a randomly chosen arrival to be less than 15 minutes?

---

Definitions:

Conversion Value

The value of a convertible security if it is converted into a specified number of shares of common stock.

Put Option

A financial contract giving the option buyer the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.

Intrinsic Value

The actual value of a company or an asset based on underlying perceptions of its true value including all aspects of the business.

Option Price

The cost associated with obtaining the right, but not the obligation, to purchase or sell an asset at a specified price within a certain time frame.