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 variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e. the mean number of calls answered in a minute is 1/3). Find the waiting time at which only 10 of the customers will continue to hold.
A) 13.8 minutes B) 2.3 minutes C) 3.3 minutes D) 6.9 minutes
Q. 2As the sample size increases, the standard error of the mean increases.
Indicate whether the statement is true or false
Q. 3A 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 variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e. the mean number of calls answered in a minute is 1/3). What proportion of customers having to hold more than 1.5 minutes will hang up before placing an order?
A) 0.60653 B) 0.86466 C) 0.39347 D) 0.13534
Q. 4The standard error of the population proportion will become larger
A) as population proportion approaches 0.50. B) as the sample size increases.
C) as population proportion approaches 0. D) as population proportion approaches 1.00.
Q. 5A 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 variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e. the mean number of calls answered in a minute is 1/3). What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A) 0.48658 B) 0.22313 C) 0.51342 D) 0.77687
Q. 6For a sample size of 1, the sampling distribution of the mean will be normally distributed
A) only if the shape of the population is symmetrical.
B) regardless of the shape of the population.
C) only if the population values are positive.
D) only if the population is normally distributed.
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