This Christmas, you have a seasonal job in a bookstore. (T), the number of minutes until the
Question:
This Christmas, you have a seasonal job in a bookstore. \(T\), the number of minutes until the next customer asks about the book Home Engineering is exponentially distributed with parameter \(\lambda=\frac{1}{15}\).
(a) Write down the probability distribution of the waiting time until 3 customers have asked about the book Home Engineering.
(b) What is the probability that you must wait more than 30 minutes before 3 customers have asked about the book Home Engineering? Calculate in both of the following ways.
- Calculate directly on the distribution itself.
- Calculate by using the Normal approximation.
(c) What is the probability that precisely \(m\) customers have asked about the book during a 30 minute time period?
(d) What is the expected number of customers who have asked about the book during the period?
Step by Step Answer:
The Bayesian Way Introductory Statistics For Economists And Engineers
ISBN: 9781119246879
1st Edition
Authors: Svein Olav Nyberg