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Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour. Calculate:
1) Expected average time ( in minutes) a customer spends at the station
2) Average number of cars in the station ( both in line and being washed)
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
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Explain the characteristics of business forecasting.
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