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Suppose the Time X a Customer Must Spend Waiting in Line

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Suppose the time X a customer must spend waiting in line at a certain fast food restaurant is a random variable that is exponentially distributed with a density function f(x) ={13ex/3 if x00 if x<0f ( x ) = \left\{ \begin{array} { l l } \frac { 1 } { 3 } e ^ { - x / 3 } & \text { if } x \geq 0 \\0 & \text { if } x < 0\end{array} \right. where x is the number of minutes that a randomly selected customer spends waiting in line.Find the expected waiting time for customers at the restaurant.


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Principal Repayment

The process of paying back the original amount borrowed from a lender, excluding interest payments.

Remote Contingent Liability

A potential liability that is considered unlikely to occur and thus is not recorded in financial statements but may be disclosed in the notes.

Disclose Only

A policy or requirement of revealing information without necessitating additional actions or changes based on the disclosure.

Note Issuance

The process of creating and distributing promissory notes, which are written promises to pay a specified sum of money at a future date.

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