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6% of $120 find percent 0.5% of $44 find percent
2 answers:
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Answer:
a) 0.25
b) 52.76% probability that a person waits for less than 3 minutes
Step-by-step explanation:
Exponential distribution:
The exponential probability distribution, with mean m, is described by the following equation:
In which is the decay parameter.
The probability that x is lower or equal to a is given by:
Which has the following solution:
The probability of finding a value higher than x is:
In this question:
a. Find the value of λ.
b. What is the probability that a person waits for less than 3 minutes?
52.76% probability that a person waits for less than 3 minutes