Question

A survey across banks in Delhi showed the mean time taken to serve customers was 6.4...

A survey across banks in Delhi showed the mean time taken to serve customers was 6.4 minutes while the standard deviation was 1.5 minutes. It is not known whether the data distribution is symmetrical. a) What is the probability of a customer being served between 2.8 and 10 minutes? b) What is the probability of a customer being served at the expected value of the distribution? Show the sketches for your answers.

Homework Answers

Answer #1

It is given that the survey across banks in Delhi showed the mean time taken to serve customers was 6.4 minutes while the

standard deviation was 1.5 minutes.

Also here we don't known whether the data distribution is symmetrical.

So we need to use Chebyshev's inequality to find the probability.

a) Here we want to find the probability of a customer being served between 2.8 and 10 minutes

Here 2.8 - 6.4 = -3.6

and 10 - 6.4 = 3.6

So both the values 2.8 and 10 are same far from the mean of the distribution.

So the probability between 2.8 and 10 minutes is at least  

Let's find the value of k

Therefore required probability is as follows

b) What is the probability of a customer being served at the expected value of the distribution? Show the sketches for your answers.

The expected value of the distribution is same as mean = 6.4

So P(X = 6.4) = 0

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The management at New Century Bank claims that the mean waiting time for all customers at...
The management at New Century Bank claims that the mean waiting time for all customers at its branches is less than that at the Public Bank, which is its main competitor. A business consulting firm took a sample of 200 customers from the New Century Bank and found that they waited an average of 4.5 minutes before being served. Another sample of 300 customers taken from the Public Bank showed that these customers waited an average of 4.75 minutes before...
A bank wishes to investigate how long it takes customers to do their business (waiting time...
A bank wishes to investigate how long it takes customers to do their business (waiting time and time to perform their transactions, which we call serving time). They believe that average serving time is consistent with 2 minutes per customer being “processed" through the system (during the midmorning hours). A consulting firm is hired by the bank, which observes midmorning operations for a while. They report back that during the survey, 40 customers were served, with the average serving time...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the purchases and fixed assets business areas. Prepare a 12- to 16-slide presentation describing the purchases and fixed assets business areas. Be sure to incorporate speaker notes as well as appropriate visuals, graphics, fonts, etc. Include any associated risk in these areas. Describe specific internal controls that include authorization of transactions, segregation of duties, adequate records and documentation, security of assets, and independent checks and...
Chick-fil-A is dominating the U.S. fast-food market. Whereas McDonald’s, Subway, Burger King, and Taco Bell trudge...
Chick-fil-A is dominating the U.S. fast-food market. Whereas McDonald’s, Subway, Burger King, and Taco Bell trudge along at the top of the heap, Chick-fil-A has quietly risen from a South- east regional favorite to become the largest chicken chain and the eighth-largest quick-service food purveyor in the country. The chain sells significantly more food per restaurant than any of its competitors—twice that of Taco Bell or Wendy’s and more than three times what the KFC Colonel fries up. And it...
1. A city official claims that the proportion of all commuters who are in favor of...
1. A city official claims that the proportion of all commuters who are in favor of an expanded public transportation system is 50%. A newspaper conducts a survey to determine whether this proportion is different from 50%. Out of 225 randomly chosen commuters, the survey finds that 90 of them reply yes when asked if they support an expanded public transportation system. Test the official’s claim at α = 0.05. 2. A survey of 225 randomly chosen commuters are asked...
Note:  100% plagiarism in the above paragraph please remove the plagiarism less than 15 % . CHALLENGES...
Note:  100% plagiarism in the above paragraph please remove the plagiarism less than 15 % . CHALLENGES / OPPORTUNITIES One of the major challenges is to change the people’s perspective of PepsiCo as an unhealthy soft drink producer. Due to the link of soft drinks to obesity and diabetes, the new CEO wants to reinvent Pepsi as a healthy food producer rather than a snacks producer. Although this is a good plan for the PepsiCo to consider, people who are used...
      MK Restaurant: Branding of Thai-Style Hotpot The restaurant industry is one of the most...
      MK Restaurant: Branding of Thai-Style Hotpot The restaurant industry is one of the most competitive in Thailand. With a large number of players ranging from restaurants in five-star hotels, global fast-food chains to small stalls along the streets and everything in between, the Thais are spoiled for choice. In addition, as the world becomes globalized, consumers are familiar with international dishes and would not hesitate to try new offerings from the other side of the globe. As a...
Polly Peyrotte started designing and decorating fine china plates more than 100 years ago. As her...
Polly Peyrotte started designing and decorating fine china plates more than 100 years ago. As her artistry caught on, she became famous. She also turned out to have considerable business skills. She grew her design studio into what today is Polly Plates, Inc. (PPI), with $36 million in annual revenue. Polly’s daughters and granddaughters became involved in the business after Polly’s retirement and hired talented designers who could carry on Polly’s tradition of beautiful plates. In recent years, however, fewer...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...