Answer:
a) 0.0821
b) 0.0111
c) 0.0041
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:
Either it lasts more 5 years or less, or it survives more than 5 years. The sum of the probabilities of these events is decimal 1. So
In all 3 cases, we want P(X > 5). So
In which
(a) lambda=.5
(b) lambda=0.9
(c) lambda=1.1