Mathematics, 05.12.2019 04:31, CupcakeTwist5972
Suppose a bus arrives at a station such that the time between arrivals is exponentially distributed with rate 1/λ. to get home, you decide to wait for the bus for some number of minutes t. if the bus has arrived before t minutes, you take the bus home which takes time b. if the bus has not arrived after t minutes, you walk home which takes time w.
(a) what is the expected total time from getting to the bus stop until getting home?
(b) suppose w < 1/λ + b at what value of t is the expected wait time minimized?
(c) suppose w > 1/λ + b at what value of t is the expected wait time minimized?
Answers: 3
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Suppose a bus arrives at a station such that the time between arrivals is exponentially distributed...
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