l) After acing your first APM395/595 exam, you have a crazy night on the town wh

Question

l) After acing your first APM395/595 exam, you have a crazy night on the town where you lose your brain, your friends, and your ride home. Assume that you are waiting for a cab on a cold, lonely street in Syracuse, that the probability that a cab will come in any one minute is 1 5%, and the probability of a cab in any one minute is an independent event. In this instance, your waiting time could be modeled as a geometric random variable. Given this situation, what is the probability you have to wait more than 20 minutes for a cab?

Explanation / Answer

P(that you need to wait more than 20 minutes for a cab) =P(in 20 interval of 1 minute the cab does not arrive) =(1-0.15)20 =0.0388

( please revert for any clariifcation required)

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