Question

On average, 15 minutes elapse between discoveries of fraudulent corporate tax returns in a certain IRS office. What is the probability that more than 30 minutes will elapse before the next fraudulent corporate tax return is discovered

Answer 1

Answer:

The probability that more than 30 minutes will elapse before the next fraudulent corporate tax return is discovered=0.1353

Step-by-step explanation:

We are given that

$\beta=15$

We have to find the probability that more that 30 minutes  will elapse before the next fraudulent corporate tax return is discovered.

Using exponential distribution

$P(X> x)=e^{-\frac{x}{\beta}}$

The probability that more than 30 minutes will elapse before the next fraudulent corporate tax return is discovered

$=P(x>30)=e^{-\frac{30}{15}}$

The probability that more than 30 minutes will elapse before the next fraudulent corporate tax return is discovered

$P(x>30)=0.1353$

Hence, the probability that more than 30 minutes will elapse before the next fraudulent corporate tax return is discovered=0.1353