Let X Represent the Amount of Time It Takes a Student

question 36

Multiple Choice

Let X represent the amount of time it takes a student to park in the car park at the university.If we know that the distribution of parking times can be modelled using an exponential distribution with a mean of 4 minutes,find the probability that it will take a randomly selected student more than 10 minutes to park in the car park.

• A) 0.329680
• B) 0.670320
• C) 0.917915
• D) 0.082085

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Definitions:

Total Cost Of Ownership

An accounting framework that considers all the direct and indirect costs associated with acquiring and using a product or system over its entire life cycle.

Portfolio Analysis

A tool used to assess the various components of a company's collection of investments or products to ensure optimal allocation of resources.

Buyer-supplier Relationship

The dynamic interaction and commercial linkage between purchasers and providers of goods or services, focusing on contract fulfillment and trust-building.

Early Supply Involvement (ESI)

A procurement strategy where suppliers are involved in the product development process at an early stage to enhance innovation and reduce costs.