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natali 33 [55]
3 years ago
10

Willow brook national bank operates a drive-up teller window that allows customers to complete bank transactions without getting

out of their cars. on weekday mornings, arrivals to the drive-up teller window occur at random, with an arrival rate of 24 customers per hour or 0.4 customers per minute.
Business
1 answer:
evablogger [386]3 years ago
8 0
There are two question related to the above information is;
1) What is the mean or expected number of customers that will arrive in a five-minute <span>period?
Answer:
to calculate the mean, customers per minute is equal to 0.4
mean for that will arrive in a five minute period  =  0.4 x 5 = 2
thus, the answer is 2.
2) </span>Assume that the Poisson probability distribution can be used to describe the arrival process. Use the arrival rate in part (1) and compute the probabilities that exactly 0, 1, 2,<span>and 3 customers will arrive during a five-minute period.
</span>Given X Poisson (Mean =2 in 5 minutes)
P(X=x) =(2^x)x exp(-2)/x!
P(X=0)=(2^0) x Exp(-2)/1! = 0.1353353
P(X=1)=(2^1) x Exp(-2)/1! =0.2706706
P(X=2)=(2^2) x Exp(-2)/2! = 0.2706706
<span>P(X=3)=(2^3) x Exp(-2)/3! = 0.180447</span>
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It would be uneconomical for a pure monopolist to produce in the inelastic segment of its demand curve because it would not be increasing its profits, because if it increases the price it can reduce the total cost and increase total revenues.

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Correct option is (D)

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Suppose you reside in the Caribbean and purchase exclusive territory rights for a McDonald's franchise. You can construct as man
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Answer:

This is a form of artificial monopoly.

Explanation:

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3 years ago
A company has a process that results in 24,000 pounds of Product A that can be sold for $8 per pound. An alternative would be to
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