Let the Time Between Two Consecutive Arrivals at a Grocery

question 23

Multiple Choice

Let the time between two consecutive arrivals at a grocery store checkout line be exponentially distributed with a mean of three minutes. Find the probability that the next arrival does not occur until at least four minutes have passed since the last arrival.

• A) 0.0000
• B) 0.2636
• C) 0.4724
• D) 0.7364

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Definitions:

Informal Contract

A contract that does not require a specified form or formality in order to be valid.

Modify Terms

The act of making changes or adjustments to the conditions or stipulations of an agreement or contract.

Market Economy

An economic system where supply and demand from private enterprises and consumers freely determine the production of goods and services, prices, and distribution.

Enforcing Private Agreements

The legal process through which private contracts or understandings between parties are made obligatory and are upheld by law.