If the Random Variable X Is Exponentially Distributed with Parameter $\lambda$

question 148

Multiple Choice

If the random variable X is exponentially distributed with parameter $\lambda$ = 1.5,then the probability P(2 $\le$ X $\le$ 4) ,up to 4 decimal places,is

• A) 0.6667
• B) 0.0473
• C) 0.5000
• D) 0.2500

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Definitions:

Total Income

The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings received by an individual or organization.

Marginal Product

The additional output that is produced by adding one more unit of a particular input, while holding other inputs constant.

Wage Rate

The amount of money paid to an employee per unit of time or output, commonly expressed as an hourly rate.

Diminishing Marginal Product

The property whereby the marginal product of an input declines as the quantity of the input increases.