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A web site experiences traffic during normal working hours at a rate of thirty visits per hour. Assume that the duration between visits has the exponential distribution.
(a) Find the probability that the duration between two successive visits to the web site is more than eight minutes. (Round your answer to four decimal places.)
(b) The top 25% of durations between visits are at least how long? (Round your answer to two decimal places.)
min
(c) Suppose that 20 minutes have passed since the last visit to the web site. What is the probability that the next visit will occur within the next 5 minutes? (Round your answer to four decimal places.)
(d) Find the probability that less than 27 visits occur within a one-hour period. (Round your answer to four decimal places.)
Midwest Tires has expected sales of 12,000 tires this year, an ordering cost of $6 per order, and carrying costs of $1.60 per tire.
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