A Type of Lightbulb Is Labeled as Having an Average $\mu = 4000$

question 8

Short Answer

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 $\mu = 4000$ . What is the median lifetime of these lightbulbs? Give your answer rounded to two decimal places.

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Definitions:

Complex Business

A business that operates in a multifaceted environment with numerous variables such as diverse product lines, international operations, or intricate regulatory requirements.

Strategic Focus

The prioritization and alignment of resources and actions with long-term goals to achieve competitive advantage and meet organizational objectives.

Financial Savings

Refers to the amount of money that an individual or organization retains after all expenses have been subtracted from their income.

Negotiating the Contract

This process involves the discussion and settlement of the terms and conditions of a contract between two or more parties before finalizing it.