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A Catalog Company Administered a Survey to Determine How Long

Question 15

Multiple Choice

A catalog company administered a survey to determine how long customers were willing to wait on hold before ordering a product.The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3.5 minutes.What proportion of customers having to hold more than 5.0 minutes will hang up before placing an order?


A) 0.2397
B) 0.5714
C) 0.4286
D) 0.7603

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