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The number of customers who use a drive-thru Automated Teller Machine (or ATM) varies from one hourto the next, with a rate of 7 customers every 15 minutes.
(a) A random variable X is to measure the number of customers who use this drive-thru ATM in a 15- minute interval. What is the probability that between 8 and 10 customers, inclusive, use this ATM in a given 15-minute interval?
(b) What is the probability that the duration of time passing between successive customers using this ATM is between 2 and 5 minutes?
(c) A customer has just driven away from this ATM, and there are no vehicles in the drive-thru ATM line. If at least 2 minutes pass until the next customer enters the drive-thru ATM line, what is the probability that in total, no more than four minutes pass until the next customer enters the drive-thru ATM line?
(d) Over the course of a 5-day week, forty-five non-overlapping 15-minute intervals were randomly chosen and the number of customers using the drive-thru ATM is to be observed in each of these 15-minute intervals. What is the probability that average number of customers using the drive-thru ATM in these forty-five 15-minute intervals will be between 6.5 and 7.75 customers?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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