Elapsed time. An article in the Journal of Risk and Financial Management (Vol. 13(3), 2020) used the International Business Machines (IBM) data to analyze financial transactions and the time lapse (in seconds) between two consecutive transactions. The mean of the time lapse was 6.768 seconds with a standard deviation of 6.234 seconds.

a. Describe the distribution of the time lapses for the IBM.

b. If a new time lapse of 105 seconds from an unknown source is added to the data analysis, is it likely to have come from the IBM data or from another source? Explain.