A Company That Receives the Majority of Its Orders by Telephone

question 401

Multiple Choice

A 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 waiting
Time was found to be a variable best approximated by an exponential distribution with a mean
Length of waiting time equal to 3 minutes (i.e. the mean number of calls answered in a minute is
1/3) . What proportion of customers having to hold more than 1.5 minutes will hang up before
Placing an order?

• A) 0.86466
• B) 0.60653
• C) 0.39347
• D) 0.13534

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Definitions:

General Yi Seong-gye

A Korean military leader who founded the Joseon Dynasty in 1392, after overthrowing the Goryeo Dynasty, under his rule as King Taejo.

Northeastern Korea

A region in Korea known for its distinct cultural and historical heritage, as well as its natural beauty, including mountains and landscapes unique to the area.

Yang

In Chinese cosmology, the principle of active masculine energy, which permeates the universe in varying proportions with yin, the principle of passive feminine energy.

Active Masculine Energy

A concept generally referring to qualities associated with traditional masculinity, such as strength, assertiveness, and leadership.