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 85 seconds completing his or her transactions. Transaction time is exponentially distributed. a. Determine the average time customers spend at the machine, including waiting in line and completing transactions. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Average time _______ minutes b. Determine the probability that a customer will not have to wait upon arriving at the automatic teller machine. (Round your answer to 2 decimal places.) Probability _______ c. Determine the average number of customers waiting to use the machine. (Round your answer to 2 decimal places.) Average number ______customers
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
| 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 85 seconds completing his or her transactions. Transaction time is exponentially distributed. |
a. Determine the average time customers spend at the machine, including waiting in line and completing transactions. (Do not round intermediate calculations. Round your answer to the nearest whole number.)
Average time _______ minutes
b. Determine the
Probability _______
c. Determine the average number of customers waiting to use the machine. (Round your answer to 2 decimal places.)
Average number ______customers
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