A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. The length of waiting time was found to be a random variable best approximated by an exponential distribution with a mean length of waiting time equal to 9.5 minutes. Find the waiting time at which only 9% of the customers will continue to hold. 11.8 minutes 0.9 minutes 0.1 minutes 15.8 minutes

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A catalog company that receives the
majority of its orders by telephone
conducted a study to determine how long
customers were willing to wait on hold
before ordering a product. The length of
waiting time was found to be a random
variable best approximated by an
exponential distribution with a mean length
of waiting time equal to 9.5 minutes. Find
the waiting time at which only 9% of the
customers will continue to hold.
11.8 minutes
0.9 minutes
0.1 minutes
15.8 minutes
22.9 minutes
Transcribed Image Text:A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. The length of waiting time was found to be a random variable best approximated by an exponential distribution with a mean length of waiting time equal to 9.5 minutes. Find the waiting time at which only 9% of the customers will continue to hold. 11.8 minutes 0.9 minutes 0.1 minutes 15.8 minutes 22.9 minutes
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