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In a store, 40% of customers make a single purchase. This activity requires a time that...

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Basic Math

In a store, 40% of customers make a single purchase. Thisactivity requires a time that has an exponential distribution withmean 2.0 minutes. The other 60% of customers ask for informationbefore making a purchase. This process requires time and has asymmetric triangular distribution with between 1 and 5 minutes (inaddition to the purchase time). Use Bernoulli, exponential andtriangular random variates to generate a sample of shopping timesfor 200 customers. Plot the histogram of these observations.

Can you show steps in excel or what should I put in thecolumn?

Answer & Explanation Solved by verified expert
4.3 Ratings (684 Votes)
40 of the customers make a single purchase and 60 of thecustomers ask for information before making a purchaseThis is a Bernoulli distribution with probability p040 thatthe customers make a single purchasesteps to simulate thisGenerate a random number from uniform    See Answer
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