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mccarthyrookie6491
mccarthyrookie6491
16.02.2022 • 
Mathematics

A company that receives most 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. Round to one decimal place.

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