Transaction time is exponentially distributed

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Many of a bank’s customers use its automatic teller machine to transact business after normal banking hours. During the early evening hours in the summer months, customers arrive at a certain location at the rate of one every other minute. This can be modeled using a Poisson distribution. Each customer spends an average of 80 seconds completing his or her transactions. Transaction time is exponentially distributed.

Reference no: EM131279255

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