Question
Management at a store is monitoring how frequently customers enter. They determine that customer frequency can be modeled by the exponential distribution, with a rate
Management at a store is monitoring how frequently customers enter. They determine that customer frequency can be modeled by the exponential distribution, with a rate of = 1/10. Use built-in R functions to answer the following questions, rounding to 4 significant figures. Hint: The exponential distribution has a "rate" parameter in RStudio that you will set equal to the provided value.
(a) What is the probability a new customer enters within the next 10 minutes?
(b) Within how many minutes can you expect 80% of new customers to arrive after the previous customer?
code in r studio (R language).
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