Question

The coefficient of variation for inter-arrival times of customers arriving at a sandwich shop is equal to 5. If the standard deviation of the inter-arrival times is 5 minute(s). What is the average inter-arrival time in minutes? Note: Round your answer to two decimal places.

Answer 1

The average inter-arrival time in minutes is 100.

Step-by-step explanation:

The coefficient of variation (CV) is a measure of relative variability and is calculated as the ratio of the standard deviation to the mean. In this case, the CV for inter-arrival times is given as 5, and the standard deviation is 5 minutes. To find the average inter-arrival time, we can use the formula:

CV = (Standard Deviation / Mean) * 100.

Rearranging the formula, we can solve for the mean: Mean = (Standard Deviation / CV) * 100.

Substituting the values, we get: Mean = (5 / 5) * 100 = 100 minutes.