If Ethan takes out a $5,000 loan to buy a motorcycle and his payments are $168.45 a month for 36 months, how much money will he
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Answer:
The probability that a randomly selected call time will be less than 30 seconds is 0.7443.
Step-by-step explanation:
We are given that the caller times at a customer service center has an exponential distribution with an average of 22 seconds.
Let X = caller times at a customer service center
The probability distribution (pdf) of the exponential distribution is given by;
Here, = exponential parameter
Now, the mean of the exponential distribution is given by;
Mean =
So, ⇒
SO, X ~ Exp()
To find the given probability we will use cumulative distribution function (cdf) of the exponential distribution, i.e;
; x > 0
Now, the probability that a randomly selected call time will be less than 30 seconds is given by = P(X < 30 seconds)
P(X < 30) =
= 1 - 0.2557
= 0.7443