An online retailer has determined that the average time for credit card transactions to be electronically approved is 1.9 seconds. (Round your answers to three decimal places.) (a) Use an exponential density function to find the probability that a customer waits less than a second for credit card approval. 0.409 (b) Find the probability that a customer waits more than 3 seconds. 0.206 (c) What is the minimum approval time for the slowest 5% of transactions? 0.0975 X sec
An online retailer has determined that the average time for credit card transactions to be electronically approved is 1.9 seconds. (Round your answers to three decimal places.) (a) Use an exponential density function to find the probability that a customer waits less than a second for credit card approval. 0.409 (b) Find the probability that a customer waits more than 3 seconds. 0.206 (c) What is the minimum approval time for the slowest 5% of transactions? 0.0975 X sec
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
100%
Expert Solution
Step 1
Given:
It is given that the average time for transactions to be electronically approved is seconds.
To find:
We have to find the minimum approval time for the slowest of transactions.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,