Application of binomial probability in waiting time
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You are manager of bank and you want to make sure customers do not have an overly long wait for a customer representative (other than the ATM or deposit box which requires no employee interaction). You know historically for each customer there is a X% chance a customer will walk in and will need customer service. You are going to try various scenarios in order to analyze the situation. Each student will be assigned a scenario is slightly different. I will do the first scenario.
90% probability a customer will walk through the door needing customer service. What percent of the time would you expect exactly 10 customers out of ten will require customer service?
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Numbers are from section 4.
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Statistics, All Topics
Year 3
Answer on fast question from attachment numbers from section 4 of attachment
You are manager of bank and you want to make sure customers do not have an overly long wait for a customer representative (other than ...
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