Question
John Macko is a student at Ozark U. He does odd jobs to supplement his income. Job requests come every 5 days on the average,
John Macko is a student at Ozark U. He does odd jobs to supplement his income. Job requests come every 5 days on the average, but the time between requests is exponential. The time for completing a job is also exponential with mean 4 days.
a) What is the probability that John will be out of jobs?
b) If John gets about $50 a job, what is his average monthly income?
c) If at the end of the semester, John decides to subcontract on the outstanding jobs at $40 each. How much, on average should he expect to pay?
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Elementary Statistics
Authors: Robert R. Johnson, Patricia J. Kuby
11th Edition
978-053873350, 9781133169321, 538733500, 1133169325, 978-0538733502
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