The Time Between Arrivals at an Intersection Follows an Exponential

question 37

Short Answer

The time between arrivals at an intersection follows an exponential probability distribution with a mean of 14 seconds.What is the probability the arrival time between vehicles is 14 seconds or less ?

---

Definitions:

Elasticity of Demand

A gauge for understanding how price changes influence the consumer demand for a particular good.

Constant Elasticity

A condition where the elasticity of a function, such as demand or supply, remains unchanged over a range of prices or quantities.

Reduce Smoking

The act of decreasing the frequency or amount of tobacco consumption.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating consumer sensitivity to price changes.