The Waiting Time Before a Caller Is Able to Speak

question 49

Multiple Choice

The waiting time before a caller is able to speak to a customer service representative at Chase Bank is exponentially distributed, with an average waiting time of 2.5 minutes.How likely is it that a caller will wait less than 2 minutes?

• A).4867
• B).5982
• C).5506
• D).4356
• E).5289

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Definitions:

Standard Deviation

An indicator of how much the values in a set differ or spread out.

Normal Distribution

The normal distribution, often called the Gaussian distribution, is a bell-shaped curve that describes the spread of a characteristic throughout a population where most occurrences take place around the average value.

Positively Correlated

A relationship between two variables where both variables move in tandem, meaning that when one variable increases, the other does as well.

Negatively Correlated

A relationship between two variables in which one variable increases as the other decreases, and vice versa.