A catalog 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 waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e.the mean number of calls answered in a minute is ).What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A)0.22313
B)0.48658
C)0.51342
D)0.77687

Question

A catalog 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 waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e.the mean number of calls answered in a minute is  ).What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A)0.22313 
B)0.48658 
C)0.51342 
D)0.77687

Quizplus · Accepted Answer

The Answer of A catalog 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 waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e.the mean number of calls answered in a minute is  ).What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A)0.22313 
B)0.48658 
C)0.51342 
D)0.77687

A Catalog Company That Receives the Majority of Its Orders