The wait time at a tax preparation service is given by the following discrete pr

Question

The wait time at a tax preparation service is given by the following discrete probability distribution.

1) What are the appropriate random number ranges (from 01, 02, 03...to... 98, 99, 100)? Please answer this question by giving the range in the following look-up table.

2) What is the expected value for the wait time? Provide calculation.

3) Using the random numbers 23, 58, 89, 54, 34, 27, 34, 36, 98, and 37. What is the average simulated wait time? Provide Calculation.

4) Comment on the similarity and difference between asnwers in Question 2 and 3. Specifically, explain why they are similar but still different.

Service Time (x) P(x) 3 0.15 3.5 0.15 4.0 0.3 4.5 0.2 5.0 0.2

Explanation / Answer

0.15

This is the appropriate random no range given in the look up table.

Simulation chart

The average simulated wait time=3.5/10

                                                   =0.35

service time   probability                                             c.f.                                         alloting r. no       3

0.15

0.15 00-14 3.5 0.15 0.30 15-29 4 0.3 0.60 30-59 4.5 0.2 0.80 60-79 5 0.2 1 80-99

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