Web visitors. A website manager has noticed that during the evening hours, about 3 people per minute

Question:

Web visitors. A website manager has noticed that during the evening hours, about 3 people per minute check out from their shopping cart and make an online purchase.

She believes that each purchase is independent of the others.

a) What model might you suggest to model the number of purchases per minute?

b) What model would you use to model the time between events?

c) What is the mean time between purchases?

d) What is the probability that the time to the next purchase will be between 1 and 2 minutes?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Statistics

ISBN: 9781292269313

4th Global Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman

See More Books

Question Posted: Sep 07, 2024 05:03 AM

See More Questions

Consider the agency relationship in malpractice cases under a contingency fee system. The plaintiff (party that sues) typically pays his or her attorney about one-third of any monetary damages that...
A space probe is to be placed in a circular orbit of 5600 mi radius about the planet Venus in a specified plane. As the probe reaches A, the point of its original trajectory closest to Venus, it is...
In Problem 73, what is the approximate probability of the number of families with 2 girls in the sample being at least 225 and not more than 275? Approximate a binomial distribution with a normal...
Baseball salaries 2015. Baseball is big business, and the top salaries have become quite large. The highest salaries (in millions of dollars per season) for each season since 1980 are given in the...
Shelby Organics produces bottled orange juice. Orange juice concentrate is typically bought and sold by the pound, and Shelby uses 50,000 pounds of orange juice concentrate each month. On December 1,...
Give the assumption or principle that would have been violated if the following entries or information had not been given: 1 . A owner of 3 different businesses wants to combine all of them into one...
huck and his employees have discussed redesigning the process to improve efficiency. Suppose they can increase the rate to 320 boxes per day. What will be their new productivity
Free-Response Questions 1. Suppose there are 100 residents on the island of Sunshine. Whenever someone purchases a palm tree to plant on the island, everyone on the island receives the same benefits...
manufacturing has its challenges, especially when the product is high production quantities at low margins. This has made quality inspection more common place in manufacturing processes. Which points...
Refer to Step 3.3. In the "Constrained" or "Long Only" version of the optimal risky portfolio, what is the portfolio standard deviation? answer as a percentage, with no percentage symbol ("%"),...
In both the following exercises, assume that all the methylene groups in the alkane are equally reactive as sites of free-radical chlorination. (a) Photochemical chlorination of heptane gave a...
The May 2014 revenue and cost information for Houston Outfitters, Inc. follow: Sales Revenue (at standard).............. $ 540,000 Cost of Goods Sold (at standard) ..........341,000 Direct Materials...

Web visitors. A website manager has noticed that during the evening hours, about 3 people per minute

Question:

Step by Step Answer:

Business Statistics

Students also viewed these Business questions