A Company That Receives Most of Its Orders by Telephone

question 185

Multiple Choice

A company that receives most of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product.The length of waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 2.8 minutes (i.e.the mean number of calls answered in a minute is 1/2.8) .What is the probability that a randomly selected caller is placed on hold fewer than 7 minutes?

• A)0.0009119
• B)0.082085
• C)0.917915
• D)0.9990881

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Definitions:

Statutes of Limitation

Laws that set the maximum time after an event within which legal proceedings may be initiated.

Reasonable Price

A price that is fair, considering the circumstances of the sale and the market conditions, often used in legal and commercial contexts to determine the fairness of transactions.

Stolen Piano

A piano that has been unlawfully taken from its rightful owner.

EU Data Protection

Regulations and laws within the European Union designed to protect individuals’ personal data and privacy.