The following data has been collected on the number of customers seen to arrive to a museum in a succession of 5-minute intervals: 5, 1, 3, 7, 5, 5, 6, 7, 5, 7, 4, 8, 1, 5, 2, 3, and 5. Estimate the squared coefficient of variation of the arrival process. If this data was known to come from a Poisson process, what would be your estimate of λ, the rate of customer arrivals?
The following data has been collected on the number of customers seen to arrive to a museum in a succession of 5-minute intervals: 5, 1, 3, 7, 5, 5, 6, 7, 5, 7, 4, 8, 1, 5, 2, 3, and 5. Estimate the squared coefficient of variation of the arrival process. If this data was known to come from a Poisson process, what would be your estimate of λ, the rate of customer arrivals?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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The following data has been collected on the number of customers seen to arrive to a museum in a succession of 5-minute intervals: 5, 1, 3, 7, 5, 5, 6, 7, 5, 7, 4, 8, 1, 5, 2, 3, and 5. Estimate the squared coefficient of variation of the arrival process. If this data was known to come from a Poisson process, what would be your estimate of λ, the rate of customer arrivals?
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