A small grocery store has only one checkout counter, Customer arrive at this checkout counter
at random times that are from 1 to 8 minutes apart. Each possible value of inter-arrival time has
the same probability
The News Dealers Problem
A classical inventory problem concerns the purchase and sale of newspapers. The newsstand
buys the papers for 33 cent each and sells them for 50 cent each. Newspapers not sold at the
end of th
Modeling and Simulation
A multiple choice test contains 25 questions each with four answers. Assume a student just
guesses on each question.
(a) What is the probability that the student answer more than 19 question correctly?