Question: Waiting Time At a certain grocery checkout counter, the average waiting time is $2.5$ minutes.

Suppose the waiting times follow an exponential density function.

1. Why would customers prefer the waiting times at the grocery checkout to follow an exponential distribution rather than a uniform distribution with the same mean?
2. Write the equation for the exponential distribution of waiting times. Graph the equation and locate the mean waiting time on the graph. Does \(\mu=2.5\) seem reasonable for the graph?
3. What is the likelihood that a customer waits less than 2 minutes to check out?
4. What is the probability of waiting between 2 and 4 minutes to check out?
5. What is the probability of waiting more than 5 minutes to check out?

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document