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Twelve customers arrive at the lunch counter at George's Happy Hog per hour and select the hickory smoked meat du jour along with a side and soda for $5. The server doubles as the cashier and can take and fill an order in three minutes on average. What is the likelihood that there are zero customers in the system at the George's Happy Hog if the times can be assumed as exponentially distributed?
Cash Account
A type of financial account that records cash transactions, including the receipt and spending of cash.
Check Register
A record, often part of a ledger or accounting software, used to track checks issued, deposits, and current account balances.
Cleared
Refers to transactions that have been reconciled and confirmed by a bank or financial institution, indicating that funds have been successfully transferred.
Reconciled
The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, confirming the accuracy of financial transactions.
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