A company that receives most 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 1/3).What proportion of customers having to hold more than 1.5 minutes will hang up before placing an order?
A)0.86466
B)0.60653
C)0.39347
D)0.13534

Question

Quizplus · Accepted Answer

The Answer of A company that receives most 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 1/3).What proportion of customers having to hold more than 1.5 minutes will hang up before placing an order?
A)0.86466
B)0.60653
C)0.39347
D)0.13534

A Company That Receives Most of Its Orders by Telephone