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 2.8 minutes (i.e.the mean number of calls answered in a minute is ).What proportion of callers is put on hold longer than 2.8 minutes?
A)0.3679
B)0.50
C)0.60810
D)0.6321

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 2.8 minutes (i.e.the mean number of calls answered in a minute is  ).What proportion of callers is put on hold longer than 2.8 minutes?
A)0.3679 
B)0.50 
C)0.60810 
D)0.6321

Quizplus · Accepted Answer

The Answer is A

A Catalog Company That Receives the Majority of Its Orders