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A type of lightbulb is labeled as having an average lifetime of 4000 hours. It's reasonable to model the probability of failure of these bulbs by an exponential density function with mean . What is the median lifetime of these lightbulbs? Give your answer rounded to two decimal places.
European Community
A group of European countries that participated in an economic and political union to promote integration and cooperation.
Common Market
An economic union of countries that allows for the free movement of goods, services, capital, and labor across member states.
Multinational Enterprise
A multinational enterprise is a company that has operations and investments beyond its home country, conducting business in multiple countries around the world.
Licensing
The process by which a licensor grants permission to a licensee to use rights, such as intellectual property rights, under agreed terms and conditions.
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