Phone Calls Arrive at the Rate of 30 Per Hour

question 25

Short Answer

Phone calls arrive at the rate of 30 per hour at the reservation desk for a hotel.
A)Find the probability of receiving three calls in a five-minute interval of time.
B)Find the probability of receiving exactly seven calls in 15 minutes.
C)If no calls are currently being processed, what is the probability that the desk employee can take ten minutes break without being interrupted?

• A)Find the probability of receiving three calls in a five-minute interval of time.
• B)Find the probability of receiving exactly seven calls in 15 minutes.
• C)If no calls are currently being processed, what is the probability that the desk employee can take ten minutes break without being interrupted?

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Definitions:

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.

Quantity Supplied

The quantity of a product or service that suppliers are ready and capable of offering for sale at a certain price during a defined timeframe.

Equilibrium Price

The equilibrium price is the price at which the quantity of goods suppliers are willing to supply matches the quantity of goods consumers are willing to buy, leading to market equilibrium.

Equilibrium Quantity

The amount of products or services available and sought after at the balance price in a marketplace.