OpenStax, Introductory Business Statistics 2e §5.3 The Exponential Distribution · Exercise 32 · Probability · Continuous distributions
The Exponential Distribution · Exercise 32
The average lifetime of a certain new smartphone is three years. The manufacturer will replace any smartphone failing within two years of the date of purchase. The lifetime of these smartphone is known to follow an exponential distribution.
The decay rate is:
(a) 0.3333
(b) 0.5000
(c) 2
(d) 3
OpenStax, Introductory Business Statistics 2e · §5.3 The Exponential Distribution · Exercise 32
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