During Late-Night Hours, the 10^th Street Convenience Store Averages Four

question 125

Multiple Choice

During late-night hours, the 10^th Street convenience store averages four customers per hour.No customers have arrived in the last half-hour.Assuming that all Poisson conditions are met, determine the probability that it will be between 15 and 30 more minutes before the next customer arrives.

• A).2326
• B).3461
• C).2784
• D).3523
• E).2558

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Definitions:

Resource

A resource is any physical or virtual entity of limited availability that needs to be consumed to obtain a benefit.

Productivity

The effectiveness in producing outcomes or results; can refer to the rate at which work is completed or the efficiency of resource use.

Output

The total amount of goods or services produced by a firm, industry, or economy within a specific period.

MRP Schedule

A document or plan that outlines the marginal revenue product of an input, showing how changes in quantity of the input affect revenue generated.