Wendy's restaurant has been recognized for having the fasted average service time among fast food restaurants. In a benchmark study, Wendy's average service time of 2.2 minutes was less than those of Burger King, Chick-fil-A, Krystal, McDonald's Taco Bell, and Toco John's. Assume that the service time for Wendy's has an exponential distribution. (If possible, what is the excel function to compute A) A. What is the probability that a service time is less than or equal to one minute? B. What is the probability that a service time is between 30 seconds and one minute? c. Suppose a manager of a Wendy's is considering instituting a policy such that if the time it takes to serve you exceeds five minutes, your food is free. What is the probability that you will get your food for free? Comment.
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Wendy's restaurant has been recognized for having the fasted average service time among fast food restaurants. In a benchmark study, Wendy's average service time of 2.2 minutes was less than those of Burger King, Chick-fil-A, Krystal, McDonald's Taco Bell, and Toco John's. Assume that the service time for Wendy's has an exponential distribution.
(If possible, what is the excel
A. What is the
B. What is the probability that a service time is between 30 seconds and one minute?
c. Suppose a manager of a Wendy's is considering instituting a policy such that if the time it takes to serve you exceeds five minutes, your food is free. What is the probability that you will get your food for free? Comment.
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