The Cashier Service Time at the Local Branch of the Rivertown

question 122

Multiple Choice

The cashier service time at the local branch of the Rivertown bank has an exponential distribution with a mean of 2.5 minutes.What is the probability that the service time: Is between 2 and 4 minutes?

• A).2488
• B).4493
• C).2019
• D).2474
• E).1170

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Definitions:

Producer Price Index

A gauge of economic health that records the mean shift over periods in the sale prices domestic producers earn from their output.

Consumer Price Index

An index measuring the variation in prices paid by typical consumers for retail goods and other items.

Inflation Rate

The swift rise in the average pricing of goods and services, resulting in the erosion of purchasing capabilities.

CPI

The Consumer Price Index represents a method for tracking the average weighted cost of various consumer goods and services, which is utilized to assess inflation levels.