If the Mean of an Exponential Distribution Is 2,then the Value

question 24

Multiple Choice

If the mean of an exponential distribution is 2,then the value of the parameter $\lambda$ is

• A) 0
• B) 2.0
• C) 0.5
• D) 1.0

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Definitions:

Marginal Revenue

The additional income received from selling one more unit of a good or service; it is a critical factor in decision-making for firms in competitive markets.

Total Revenue

The overall amount of money generated by a company from its business activities, usually from the sale of goods or services, before any costs or expenses are deducted.

Output Rising

A situation where the production of goods and services in an economy increases over a certain period.

Optimal Efficiency

The most advantageous level of efficiency where resources are utilized in a way that maximizes output or benefits without waste.