The Average (Or Expected) Time It Takes to Complete a Purchase

question 35

Multiple Choice

The average (or expected) time it takes to complete a purchase at Trippler.com is 45 seconds.All the conditions for a Poisson distribution are met.Use the exponential distribution to determine the probability that it will take at least 2 minutes to complete your next Trippler.com purchase.

• A).102
• B).134
• C).035
• D).07
• E).088

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Definitions:

Current Operations

Activities related to the primary business objectives that generate revenue within the current fiscal period.

Controlling Influence

The power to govern the financial and operating policies of an entity to benefit from its activities.

Parent

In the context of business, a parent company is one that owns enough voting stock in another corporation to control its board of directors and therefore its operations and policies.

Subsidiary

A company controlled by another company, known as the parent company, through the ownership of more than half of its voting stock.