The times between successive customer arrivals at a facility are independent and identically distributed random variables with the following PMF: { 0.2, p(k) = 0.3, 0.5, 0, k=l, k=3, k=4, otherwise. Construct a four-state Markov chain model that describes the arrival process. In this model, one of the states should correspond to the times when an arrival occurs.
Confidence Interval Sample statistic Usually a point estimate Used to estimate population parameter Sample point estimate +/- margin of error Lower endpoint sample point estimate upper endpoint Margin of error Margin of error Measure of variability associated with point of estimate at desired level of confidence Small margin of error means higher precision Higher desired confidence level means a larger margin of error Lowest value in the computed confidence level =lower endpoint Highest value in the computed confidence level= higher endpoint Confidence interval for p Point estimate +/- margin of error Margin of
