A catalogue company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product.The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes.
-What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A) 0.51342
B) 0.48658
C) 0.22313
D) 0.77687

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The Answer of A catalogue company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product.The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes.
-What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A) 0.51342
B) 0.48658
C) 0.22313
D) 0.77687

A Catalogue Company That Receives the Majority of Its Orders