Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A website manager has noticed that during the evening hours, about 1.5 people per minute check out from their shopping cart and make an online

image text in transcribed

image text in transcribed
A website manager has noticed that during the evening hours, about 1.5 people per minute check out from their shopping cart and make an online purchase. She believes that each purchase is independent of the others and wants to model the time between purchases. Complete parts a through c. a) What model would you use to model the time between events? Geometric Binomial Normal Exponential b) What is the mean time between purchases? The mean time between purchases is 0.6667 minutes. (Round to four decimal places as needed.) c) What is the probability that the time to the next purchase will be between 1 and 2 minutes? P(1 SXs 2) = (Round to four decimal places as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Statistics

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

3rd Edition

978-0321944726, 321925831, 9780321944696, 321944720, 321944690, 978-0321925831

More Books

Students also viewed these Mathematics questions

Question

4. What means will you use to achieve these values?

Answered: 1 week ago

Question

3. What values would you say are your core values?

Answered: 1 week ago