Suppose the average waiting time for a customer's call to be answered by a company representative (modeled by exponentially decreasing probability density functions) is 10 minutes. Find the median waiting time. Select the correct answer.
A) $10.93$ minutes
B) $7.93$ minutes
C) $6.93$ minutes
D) $9.93$ minutes
E) $8.93$ minutes

Question

Quizplus · Accepted Answer

The median of an exponential distribution with mean $\mu$ is given by $\mu \ln(2)$. Here, $\mu = 10$ minutes, so the median is $10 \ln(2) \approx 6.93$ minutes.

Suppose the Average Waiting Time for a Customer's Call to Be