The Interval Between Patients Arriving at an Outpatient Clinic Follows

question 88

Short Answer

The interval between patients arriving at an outpatient clinic follows an exponential distribution at a rate of 1 patient per hour.What is the probability that a randomly chosen arrival to be less than 20 minutes?

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Definitions:

Coase Theorem

A principle stating that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property.

Usage Fee

A charge imposed for using a particular service or facility, typically structured according to the extent or duration of use.

Efficient

Characterized by achieving a desired outcome with the least wasted effort or resources.

Clean Water

Water that is free from pollutants, contaminants, and harmful microorganisms, safe for consumption and suitable for use in various domestic and industrial activities.