Mathematics, 07.11.2019 02:31 getse61
Acalifornia water company has determined that the average customer billing is $1,100 per year and the amounts billed have an exponential distribution. a. calculate the probability that a randomly chosen customer would spend more than $ 4,000. b. compute the probability that a randomly chosen customer would spend more than the average amount spent by all customers of this company.
Answers: 3
![P(x4000) = 1- [1-e^{-\frac{4000}{1100}}]](/tpl/images/0363/0845/09eeb.png)
![P(x1100) = 1- [1-e^{-\frac{1100}{1100}}]](/tpl/images/0363/0845/2b39f.png)
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Acalifornia water company has determined that the average customer billing is $1,100 per year and th...
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