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Suppose the average service rate equals 0.4 and service times follow an exponential probability distribution. In this case, 75% of customers will have a service

Suppose the average service rate equals 0.4 and service times follow an exponential probability distribution.

In this case, 75% of customers will have a service time of at most ____ minutes. Fill in the blank, in minutes, rounded to two decimal places.

Hint: On paper, set the exponential probability formula equal to the percentage (as a decimal), then solve for t. You will need the natural logarithm (=LN in Excel)

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