Exhibit 6-3

question 24

Multiple Choice

Exhibit 6-3.Patients scheduled to see their primary care physician at a particular hospital wait,on average,an additional eight minutes after their appointment is scheduled to start.Assume the time that patients wait is exponentially distributed. Refer to Exhibit 6-3.What is the probability a randomly selected patient will have to wait more than 10 minutes?

• A)0.2865
• B)0.4493
• C)0.5507
• D)0.7135

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Definitions:

Antitrust Laws

Regulations designed to promote competition and prevent monopolies and other forms of market domination that could be detrimental to consumer interests.

Department of Justice

The federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice.

Federal Trade Commission

A federal agency established to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Price-Fixing

An illegal agreement among competitors to set prices at a certain level, rather than letting them be determined naturally by supply and demand.