The Department of Motor Vehicles (DMV) can service customers at a rate of 20 per hour (or 1/3 per minute) when it comes to license renewals. The service time follows an exponential distribution
What is the probability that it will take less than 2 minutes for a particular customer to get a license renewal?
A) 1
B) 0.487
C) 0.513
D) 0
E) 0.1
B
Business
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Which of the following is perceived from an experience curve?
A) Prices increase as total production volume is doubled. B) Labor time does not impact an organization's overall costs. C) Valued-added costs increase each time cumulative volume doubles. D) Performing a task more often reduces the costs of doing it.
Business
In a buying center, people who authorize the proposed actions of deciders or buyers are initiators
Indicate whether the statement is true or false
Business