Suppose the Time It Takes for a Customer to Be

question 54

True/False

Suppose the time it takes for a customer to be served at a fast-food chain business is thought to be uniformly distributed between 3 and 8 minutes, then the probability that a customer is served in less than 3 minutes is 0.

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Definitions:

Funding Goal

The specific amount of money that a project or venture aims to raise within a given timeframe, often through means such as loans, investments, or crowdfunding campaigns.

Crowdfunding

The strategy of accumulating funds for a project or venture by appealing for small monetary donations from countless individuals, typically through the web.

Product

A good or service offered by a business or seller to meet consumer needs or demands.

Patronage Model

A funding approach where supporters or patrons financially back an individual, organization, or project, often in the arts or creative fields, without expecting a financial return.