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Suppose occurences of sales on a small company's website are well modeled by a Poisson model with 2 = 3/hour. a) If a sale just
Suppose occurences of sales on a small company's website are well modeled by a Poisson model with 2 = 3/hour. a) If a sale just occurred, what is the expected waiting time until the next sale? b) What is the probability that the next sale will happen in the next 12 minutes? . . . a) The expected waiting time until the next sale is hour(s). (Type a simplified fraction)
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