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A Catalog Company Administered a Survey to Determine How Long

question 15

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A catalog company administered a survey to determine how long customers were willing to wait on hold before ordering a product.The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3.5 minutes.What proportion of customers having to hold more than 5.0 minutes will hang up before placing an order?


Definitions:

Ordinary Care

The reasonable level of care, diligence, and judgment that a person in a particular profession is expected to exercise under specific circumstances.

Internal-Unstable

Attributes in attributing causation for an event or behavior to factors inside a person that can change, such as effort or mood.

External-Stable

An attributional pattern where success or failure is attributed to enduring factors outside an individual's control.

Cognitive Inconsistency

The state of having contradictory thoughts, beliefs, or attitudes, especially relating to behavioral decisions and attitude change.

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