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The arrival of customers over fixed time intervals in a bank follow a Poisson distribution with an average of 30 customers/hour. The probability that the time between successive customer arrivals is between 1 and 3 minutes is __________ (correct to two decimal places).
    Correct answer is '0.383'. Can you explain this answer?
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    Given:
    - The arrival of customers follows a Poisson distribution.
    - Average number of customers per hour is 30.

    To find:
    - The probability that the time between successive customer arrivals is between 1 and 3 minutes.

    Solution:

    Step 1: Calculation of Arrival Rate
    - The average number of customers per hour is given as 30.
    - We need to convert this to the arrival rate λ (lambda) which is the average number of customers per time unit.
    - There are 60 minutes in an hour, so the arrival rate λ (lambda) can be calculated as:
    λ = (30 customers/hour) / (60 minutes/hour) = 0.5 customers/minute

    Step 2: Calculation of Probability
    - The time between successive customer arrivals follows an exponential distribution.
    - The mean of the exponential distribution is equal to the inverse of the arrival rate (λ).
    Mean = 1 / λ = 1 / 0.5 = 2 minutes

    - We need to find the probability that the time between successive customer arrivals is between 1 and 3 minutes.
    - This can be calculated using the cumulative distribution function (CDF) of the exponential distribution.
    - The CDF of the exponential distribution is given by:
    CDF(x) = 1 - e^(-λx)

    - To find the probability of the time between successive customer arrivals being between 1 and 3 minutes, we can calculate the difference between the CDF values at x=3 and x=1.
    - Probability = CDF(3) - CDF(1)
    = 1 - e^(-λ*3) - (1 - e^(-λ*1))
    = e^(-λ) - e^(-3λ)

    Step 3: Calculation of Probability
    - Substitute the value of λ into the equation to calculate the probability.
    λ = 0.5 customers/minute

    - Probability = e^(-0.5) - e^(-3*0.5)
    = e^(-0.5) - e^(-1.5)
    ≈ 0.6065306597 - 0.2231301601
    ≈ 0.383

    Answer:
    The probability that the time between successive customer arrivals is between 1 and 3 minutes is approximately 0.383.
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    The arrival of customers over fixed time intervals in a bank follow a Poisson distribution with an average of 30 customers/hour. The probability that the time between successive customer arrivals is between 1 and 3 minutes is __________ (correct to two decimal places).Correct answer is '0.383'. Can you explain this answer?
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