Calculate approximate value of the long-run average charge

Reference no: EM131811586

Question: For a particular kind of call, the phone company charges $1 for the first minute of any portion thereof, and one cent per second for time after the first minute. Calculate the approximate value of the long-run average charge per call assuming the distribution of call duration is:

a) exponential with mean 1 minute:

b) exponential with mean 2 minutes:

c) gamma with shape parameter 2 and mean 1 minute.

Reference no: EM131811586

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