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blagie [28]
1 year ago
12

A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were w

illing 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. find the waiting time at which only 10% of the customers will continue to hold.
Business
1 answer:
Oksi-84 [34.3K]1 year ago
5 0

The waiting time at which 10 percent of the people would continue to hold is given as 2.3

<h3>How to solve for the waiting time</h3>

We have to solve for X ~ Exponential(λ).

then E(X) = 1/λ = 3,

= 0.3333

Remember that the cumulative distribution function of X is F(x) = 1 - e^(-λx). ;  x is equal to the  time in over case

For 10 percent of the people we would have a probability of

10/100 = 0.1

we are to find

P(X ≤ t)

= 1 - e^(0.3333)(t) = 0.1

Our concern is the value of t

Then we take the like terms

1-0.1 = e^(0.3333)(t)

1/0.9 = e^(0.3333)(t)

t = 3 * ln(1/0.9)

= 0.3157

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allsm [11]

Answer:

B. 11%

Explanation:

Recall that

Dollar return on euros = Euro interest rate + [(current exchange rate per euro - initial exchange rate per euro) ÷ initial exchange rate per euro]

Given that

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Current exchange rate = 1.165

Therefore

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= 0.05 + [0.065 ÷ 1.10]

= 0.05 + 0.059

= 0.109

OR

= 10.9 %

= 11%

4 0
3 years ago
Assuming a 360 day year, the interest charged by the bank at the rate of 6%, on a 90 day discounted note payable of 100,000 is:_
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Answer:B. $1,500

Explanation:

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4 0
2 years ago
Machinery purchased for $69,600 by Tamarisk Co. in 2016 was originally estimated to have a life of 8 years with a salvage value
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Answer and Explanation:

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b. Depreciation expense $4,756  

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Now Revised depreciation is

= ($69,600 - $40,600 - $5,220) ÷ 5

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Find the given attachment

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