The Waiting Time at an Elevator Is Uniformly Distributed Between

question 6

Multiple Choice

The waiting time at an elevator is uniformly distributed between 30 and 200 seconds. What is the probability a rider waits less than two minutes?

• A) 0.4706
• B) 0.5294
• C) 0.6000
• D) 0.7059

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Definitions:

Winter

The coldest season of the year, occurring between autumn and spring.

Disinflation

A slowdown in the rate of inflation, marked by a gradual decrease in the general price level of goods and services over time.

Purchasing Power

The ability of an individual, firm, or group to purchase goods and services with a given unit of currency.

Price Level

The average cost across all sectors of goods and services produced in the economy.