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:

Slope

The rate at which a line inclines or declines, showing the relationship between the change in the vertical axis to the horizontal axis.

Budget Line

A graphical representation of all possible combinations of two goods that an individual can purchase given their income and the prices of the goods.

Quantity Discounts

Price reductions offered to buyers purchasing in large volumes, aimed at encouraging larger purchases and fostering customer loyalty.

Fixed Price

A price that does not change over time or in response to market conditions, often set by a seller or agreement.