Examlex

Solved

The Amount of Time It Takes to Serve Each Customer

question 26

Multiple Choice

The amount of time it takes to serve each customer in a bank is a random variable,X,with a mean of μ minutes and a standard deviation of σ minutes.When you arrive at the bank there are three customers in front of you.If the times for the three customers are independent of one another,which of the following shows the correct method for calculating the variance of your wait time?


Definitions:

IASB

Stands for International Accounting Standards Board, responsible for developing International Financial Reporting Standards (IFRS).

Economic Benefits

The gains received or receivable by an entity as a result of past or future transactions or events.

Asset

A present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.

Control

The power to influence or direct the behavior of people or the course of events.

Related Questions