Probability that a passenger gets through customs

Assignment Help Microeconomics
Reference no: EM13689510

Suppose that a study conducted by the Department of Homeland Security discovered that the average time it took passengers to go through the customs process for international flights arriving at the Atlanta airport was 33 minutes. Assuming that the wait times are distributed according to a Poisson distribution, please answer the following;

a. What is the probability that a passenger gets through customs in more than 45 minutes?

b. What is the probability that a passenger gets through customs in less than 20 minutes?

c. What is the probability that a passenger gets through customs between 30 and 35 minutes?

Reference no: EM13689510

Questions Cloud

Pretty extraordinary measures in an attempt to stabilize : In 2008 the Federal Reserve took pretty extraordinary measures in an attempt to stabilize the economy. You need both equations and clearly labeled graphs (separate graphs for each question) to answer the following questions.
Equilibrium price-quantity and calculate quota rents : What would happen to the equilibrium price and quantity if the government introduced a production quota of 10 million bushels? Show the new equilibrium price/quantity and calculate quota rents.
Amount of utility she gets by consuming : Suppose Jane buys only two goods X and Y , and she spends an income I on these two products. Suppose the price of X is px and the price of Y is py. She derives utility by consuming X and Y.
Probability that a passenger gets through customs : Suppose that a study conducted by the Department of Homeland Security discovered that the average time it took passengers to go through the customs process for international flights arriving at the Atlanta airport was 33 minutes
What is optimal level of pollution abatement : Suppose the marginal cost of abating X units of pollution is given by MC(X) = 2X and marginal benefits are MB(X) = 10-2X. Suppose Current pollution = 4 = Xmax. What is optimal level of pollution abatement, X*?
Countries affect trade and global competition : Normal 0 false false false EN-US X-NONE X-NONE Specialization and division..
The share that represents payments to raw labor : In the United States, the average hourly earnings of production workers in 2007 were $17.45 per hour. The national minimum wage was $5.85 per hour.

Reviews

Write a Review

Microeconomics Questions & Answers

  Why did the gold standard collapse

Why did the gold standard collapse? Is there a case for returning to some kind of gold standard? If so, what is it? What opportunities might current IMF lending policies to developing nations create for international business? What threats might they..

  John davis a recent ie graduate from tennessee

john davis a recent ie graduate from tennessee technological university bought an suv for 30000 with a down payment of

  Specializes in online security software development

A company that specializes in online security software development wants to have $85 million available in three years to pay stock dividends. How much money must the company set aside now in an account that earns interest at a rate of 8% per year, co..

  Economic concept of couponing

What key economic concepts underlie the employ of discount coupons by businesses?

  Supply and demand

Consider a market where supply and demand are given by QXS = -12 + PX and QXd = 90 - 2PX.

  Explain the concept of breach of contract

Lawsuit which will explain the concept of Breach of contract due to frustration as the defense. To support my argument that when a performer and the group is sick the contract can be breached using frustration defense

  Give the cost-benefit analysis for the company which has to

give the cost-benefit analysis for the company which has to decide whether to hire more staff or hire temporary workers

  Businesses like to charge customers dissimilar prices

Why do Movie theatres, airlines, and many other businesses like to charge customers dissimilar prices based on time of the day, age, and purchase dates? Provide an example of a price discrimination for a good or service that you thought it to unfair...

  Licensure of physicians means that to some extent the

licensure of physicians means that to some extent the supply of physicians can be viewed as a vertical line. explain

  Bank operations using t accounts

Bank operations using T accounts

  Effect of rising jet fuel prices

Increasing jet fuel values recently led most major United States airlines to raise fares by approximately 15%. Describe how this substantial increase in airfares would affect the following;

  Donate a large amount of money for student scholarships

A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at t..

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!

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