The Lifetime of a Stereo Component Is Exponentially Distributed with Mean

question 146

Multiple Choice

The lifetime of a stereo component is exponentially distributed with mean 1,000 days. What is the probability that the lifetime of the stereo component is greater than or equal to 700 days?

• A) .7603
• B) .5034
• C) .2397
• D) .4966

---

Definitions:

Partnership Exists

A business arrangement where two or more persons agree to share in all assets, profits, and financial and legal liabilities of a venture.

Joint Interest

A shared ownership interest among parties, typically in business contexts or real property, where all parties share in the profits, losses, and responsibilities.

Operational Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services.

Personal Debts

Financial obligations for which an individual is personally responsible, as opposed to debts of a corporation or business entity.