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If an Average of 12 Customers Is Served Per Hour

question 39

Multiple Choice

If an average of 12 customers is served per hour, what is the probability that the next customer will arrive in 6 minutes or less?

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Definitions:

Commission

A fee or percentage of a sale paid to an agent or employee for facilitating or completing a transaction.

Real Estate Broker

A licensed professional who acts as an intermediary between sellers and buyers of real estate, facilitating transactions for a commission.

Listing Contract

A contractual agreement between a property owner and a real estate broker authorizing the broker to find a buyer or tenant.

Open Listing

A non-exclusive contract allowing a property owner to sell their property themselves or to engage multiple agents without any obligation to pay commission except to the one who brings a valid offer.

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