If the population distribution is symmetric, the sampling distribution of the mean can be approximated by the normal distribution if the samples contain 15 observations.
Indicate whether the statement is true or false
Question 2
A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. The length of waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 3 minutes (i.e. the mean number of calls answered in a minute is 1/3). Find the waiting time at which only 10 of the customers will continue to hold.
A) 13.8 minutes B) 2.3 minutes C) 3.3 minutes D) 6.9 minutes
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