Customers make purchases at a convenience store, on average, every six minutes. It is fair to assume that the time between customer purchases is exponentially distributed. Jack operates the cash register at this store. a-1. What is the rate parameter A? (Round your answer to 4 decimal places.) Rate parameter A 0.1667 a-2. What is the standard deviation of this distribution? (Round your answer to 1 decimal place.) Standard deviation

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.