The Time Between Arrivals at an ATM Machine Follows an Exponential

question 212

Multiple Choice

The time between arrivals at an ATM machine follows an exponential distribution with $\theta = 10$ minutes. Find the probability that between 15 and 25 minutes will pass between arrivals.

• A) 0.141045
• B) 0.223130
• C) 0.082085
• D) 0.305215

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Definitions:

Thing or Benefit

Refers to any item of value or advantage that is provided or promised in a transaction or agreement.

Unconscionable Contracts

Agreements that are so unfairly one-sided that they are deemed immoral or unjust and are therefore unenforceable under the law.

Unconscionability

A doctrine in contract law that describes terms that are so unjustly one-sided that they are considered shockingly unfair or oppressive.

Doctrine of Privity

A principle that states a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.