THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 72

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A wire-spinning machine will spin,on average,12.3 miles before needing maintenance.Assume the time between maintenance is exponentially distributed.
-What is the median amount of time before the machine needs servicing?

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Definitions:

Buying Habits

Patterns or tendencies that consumers show when purchasing goods and services, often analyzed for marketing strategies.

Descriptive Statistics

Statistical methods that summarize and describe the features of a collection of information, typically represented in numerical analyses.

Significantly Higher

Refers to a noticeably greater amount or degree when comparing two or more values or occurrences.

Correlational Study

A research method that examines the relationship between two or more variables, determining how they might relate or predict each other without inferring a causal relationship.