Response:
The correct choice is option "D": It is likely that the fees imposed by a bank will exceed the interest offered on a teenager’s savings account during their initial saving period.
Clarification:
Financial institutions often impose elevated fees on savings accounts for teenagers since they lack a credit history. This can make them appear to be riskier financially, particularly concerning overdrafts. Consequently, banks generally offer lower interest rates on these accounts along with certain limitations that one should consider before selecting a bank for account opening.
Answer:
Part a:
Show the probability density function for the waiting times at Kroger, assuming they are exponentially distributed.
Solution:
Probability density function f(x) = (1/ )*e-x/ = (1/26)*e-x/26 (result)
Part b:
Calculate the probability that a customer waits between 15 and 30 seconds.
Solution:
0.2462
Part c:
Determine the probability that a customer must wait longer than 2 minutes.
Solution:
0.0099
Explanation:
All calculations are included.
Answer: Apportionment
Explanation: Apportionment, also referred to as analogous estimating, is utilized when projects closely align with previous ones concerning features and costs. This allows for rapid estimation regarding project duration, cost, and features with minimal effort, accuracy, and reliance on historical data. The apportionment methodology is common in fairly standard projects with limited variation or customization.
