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mart [117]
3 years ago
10

A bank wishing to increase its customer base advertises that it has the fastest service and that virtually all of its customers

are served in less than 11 minutes. A management scientist has studied the service times and concluded that service times are exponentially distributed with a mean of 6 minutes. Determine what the bank means when it claims 'virtually all' its customers are served in under 11 minutes.
Business
1 answer:
const2013 [10]3 years ago
8 0

Answer:

Proportion of customers served in under 11 minutes =   0.8401

Explanation:

Please the solution attached .

Download pdf
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Two securities have a covariance of 0.022. If their correlation coefficient is 0.52 and one has a standard deviation of 15%, wha
ira [324]

Answer: 28.2%

Explanation:

Correlation Coefficient = Covariance / (Standard deviation of Security A * Standard deviation of Security B)

0.52 = 0.022 /( 15% * σ)

(15% * σ) * 0.52 = 0.022

15% * σ = 0.022 / 0.52

σ = 0.0423/15%

= 28.2%

3 0
2 years ago
Janet bought a share of stock for $47.50 that paid a dividend of $.72 and sold one year later for $51.38. What was her dollar pr
LiRa [457]

Answer:

Dollar profit/loss= $4.6

Holding period of return = 9.68%

Explanation:

Janet bought a share of stock for $47.50

Dividend paid is $0.72

The stock was sold later at $51.38

The first step is to calculate the dollar profit/loss

= stock after a year - cost of stock + dividend paid

= $51.38 - $47.50- $0.72

= $4.6

The holding period return can be calculated as follows

= dollar profit/loss ÷ purchasing price of stock

= 4.6/47.50

= 0.0968×100

= 9.68 %

6 0
2 years ago
In a market economy, decisions about which goods are produced are based
STatiana [176]

Answer:

B. what businesses believe will generate the most profits.

Explanation:

A market economy is one where the factors of production are owned by the private sector. Production and distribution of products and services are in the hands of private individuals and firms. The government's role is mostly regulation and the provision of public goods.

In the market economy, the private sector engages in business to make profits. They risk their resources in producing goods and services that can increase their wealth. Only the products that are likely to generate profits are produced.

4 0
2 years ago
Which government body authorized CTSOs
KIM [24]

Answer:

The U.S. Congress authorized CTSOs.

Explanation:

7 0
2 years ago
Read 2 more answers
What is the total cost of a 15-year mortgage if the monthly payment is $1718.70? A. $447,585.60 B.$281.683.80 C. $309, 366.00 D.
Vaselesa [24]

Answer:

Total Cost = $309,366

Explanation:

Given:

Number of year = 15 year

Monthly payment = $1,718.70

Find:

Total Cost

Computation:

Total Cost = Number of year x 12 months x Monthly payment

Total Cost = 15 x 12 x 1,718.70

Total Cost = $309,366

3 0
3 years ago
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