main

prev        

Statement of a problem № m677

        next    

Many retail stores offer their own credit cards. At the time of the credit application, the customer is given a 10% discount on the purchase. The time required for the credit application process follows a uniform distribution with the times ranging from 4 minutes to 10 minutes. a. What is the mean time for the application process? b. What is the standard deviation of the process time? c. What is the likelihood a particular application will take less than 6 minutes? d. What is the likelihood an application will take more than 5 minutes?

Solution:

Download free solution (doc)

New search. (Also 1294 free access solutions)