Suppose That the Time for UPS Confirmation by E-Mail or Text

question 15

Essay

Suppose that the time for UPS confirmation by e-mail or text of a door delivery is
uniformly distributed between 5 and 10 minutes.
A. What is the probability that the confirmation arrives within 6 minutes?
b. What is the probability that the customer will have to wait no more than 7 minutes for
a confirmation?
c. What is the probability that the customer will have to wait at least 8 minutes for a
confirmation?

---

Definitions:

Straight-Line Method

The straight-line method is a way of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Equity Method

An accounting technique used to record investments in which the investor has significant influence over the investee, usually through ownership of 20-50% of voting stock.

Bonds Payable

Long-term liabilities represented by promissory notes issued by a company to borrow funds, repayable at a specified future date along with interest.

Unamortized Discount

The portion of a bond's issue price that is below its face value and has not yet been expensed over the life of the bond.