In its preparation for online purchasing capabilities, a company is exploring th

Question

In its preparation for online purchasing capabilities, a company is exploring the use of sessions as a means to have secure transaction processing. It was determined that the time to process a transaction can be treated as a random variable having a normal distribution with a standard deviation of 10ms.

a. They know there is a probability of .8212 that a transaction will take less than 282.5 ms to process. What are the other necessary measurements to continue with b.?

b. Establish a value to time out sessions involved in transactions so the company will lose no more than .5% of them.

Explanation / Answer

a)

P( z < z ) = 0.8212 is the same as P( z > z ) = 0.1788

z = 0.92 = ( 282.5 - miu ) / 10

miu = 273.3

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