Question

Customers make purchases at a convenience store, on average, every six minutes. It is fair to assume that the time between customer purchases is exponentially distributed. Jack operates the cash register at this store. a-1. What is the rate parameter A? (Round your answer to 4 decimal places.)

Rate parameter λ - ?

Answer 1

The rate parameter A for the exponential distribution is 0.1667.

Step-by-step explanation:

To find the rate parameter A of the exponential distribution, we need to use the formula:

A = 1 / mean_waiting_time

In this case, the average time between customer purchases is 6 minutes. Therefore, the rate parameter A is:

A = 1 / 6 = 0.1667 (rounded to 4 decimal places).