User Account

All Pages

End of section problem

Assignment Help Basic Statistics
Reference no: EM131929576

End of Section Problem

On Monday mornings, the First National Bank only has one teller window open for deposits and withdrawals. Experience has shown that the average number of arriving customers in a four-minute interval on Monday mornings is 2.8, and each teller can serve more than that number efficiently. These random arrivals at this bank on Monday mornings are Poisson distributed.

Appendix A Statistical Tables

*(Round your answers to 4 decimal places.)

**(Round your answer to 2 decimal places.)

a. What is the probability that on a Monday morning exactly six customers will arrive in a four-minute interval?

*b. What is the probability that no one will arrive at the bank to make a deposit or withdrawal during a four-minute interval?

*c. Suppose the teller can serve no more than four customers in any four-minute interval at this window on a Monday morning.What is the probability that, during any given four-minute interval, the teller will be unable to meet the demand?

* What is the probability that the teller will be able to meet the demand?

* When demand cannot be met during any given interval, a second window is opened. What percentage of the time will a second window have to be opened?

%**d. What is the probability that exactly three people will arrive at the bank during a two-minute period on Monday mornings to make a deposit or a withdrawal?

* What is the probability that five or more customers will arrive during an eight-minute period?

Reference no: EM131929576

Questions Cloud

What is effective annual rate of interest : The terms of sale are 4/4, net 35. What is the effective annual rate of interest?
Calculate the balance in ending inventory on december : Calculate the balance in ending inventory on December 31, 2012 if Polar, Inc. uses periodic FIFO to value inventory
What are the current strengths of the organization : What are the current strengths of the organization and will they still be of value as the industry changes?
Find expected rate of return on the market portfolio : Find the expected rate of return on the market portfolio and on each stock. what does the CAPM say about the fair expected rate of return on the two stocks?
End of section problem : On Monday mornings, the First National Bank only has one teller window open for deposits and withdrawals. Experience has shown that the average number
How does a company determine : The Bureau of Industry and Security (BIS) at the U.S. Department of Commerce is responsible for implementing and enforcing the Export Administration Regulations
What immediate tax consequences : In 2013, Gail changed from the lower of cost or market FIFO method to the LIFO inventory method. What immediate tax consequences
What is the probability that the sample proportion : A population proportion is 0.58. Suppose a random sample of 660 items is sampled randomly from this population.
Analyze the role of consumer demand in influencing strategy : Analyze the role of consumer demand in influencing Parker Pen's Strategies. Critically examine whether Parker will able to maintain its market power in China.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistical analysis used and the primary measures

Identification of study design - Description of study population and the sampling/selection process

  Draw a second sketch of the target

Draw a second sketch of the target if the shots are both unbiased and precise (have little variation).

  Prepare an estimated treatment means plot

c. Test whether or not the two factors interact; use a = .01. State the alternatives, decision rule, and conclusion. What is the P-value of the test?

  Find margin of error if probability is given

It is known that the standard deviation of the population of checkout times is one minute. With a .95 probability, the sample mean will provide a margin of error of?

  Ower inc produces aa batteries used in remote-controlled

power inc. produces aa batteries used in remote-controlled toy cars. the mean life of these batteries follows the

  An insurance company receives an average of 100 claims per

an insurance company receives an average of 100 claims per month and each claim results in a payment independently of

  Determine the purpose of an outlier analysis

Referring to Exercise, what might be the purpose of an outlier analysis in this case? What might it reveal?

  Replenishment order and the receipt of the item

The distribution is shown here, where the random variable x is the number of days between the placement of the replenishment order and the receipt of the item.

  Unclear concept regarding regression

List one unclear concept regarding regression and provide an example from your personal or work life where regression could be used to show a relationship between two variables.

  Fred did a study to see if a psychiatric patients respond

fred did a study to see if a psychiatric patients respond to a better to a certain kind of therapy. he arranged for

  Evaluation using a chi-square test for goodness of fit

The data show that 48 of the doctors picked Brand X. If these data are evaluated using a chi-square test for goodness of fit, what is the expected frequency for Brand X?

  A patient is seen at a clinic a recent epidemic in town

questiona patient is seen at a clinic. a recent epidemic in town shows that the probability that the patient suffers

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd