An art collector travels to art auctions once a month on the average. Each trip is guaranteed

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An art collector travels to art auctions once a month on the average. Each trip is guaranteed to produce one purchase. The time between trips is exponentially distributed. Determine the following:

(a) The probability that no purchase is made in a 2-month period.

(b) The probability that no more than 6 purchases are made per year.

(c) The probability that the time between successive trips will exceed 2 month.

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Operations Research: An Introduction

ISBN: 9352865277

10th Global Edition

Authors: Hamdy A Taha

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Question Posted: Oct 24, 2024 04:01 AM

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An art collector travels to art auctions once a month on the average. Each trip is guaranteed

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Operations Research: An Introduction

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