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Probability: Average Value: Example 2

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First published at 22:38 UTC on November 27th, 2018.

#mathematics
#calculus
#science

Math Easy Solutions

MES

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In this video I go over another example on probability and average values and this time look at the probability of waiting longer than the average time we expect to wait when calling a company representative. What's interesting is that the average wait time does not necessarily mean that 50% of people wait at least this long. This is rather the median wait time and I will look at this further in my next video so stay tuned for that. The reason why the average wait time differs from the median wait time is because people with very long wait times skew the average value to be higher than when we base it strictly on finding the median value. This is a good example illustrating this concept so make sure to watch this video!

Download the notes in my video: https://1drv.ms/b/s!As32ynv0LoaIhr9tBUO-GsP8-NHkSQ

View Video Notes on Steemit: https://steemit.com/mathematics/@mes/probability-average-value-example-2

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