Let X Be an Exponential Random Variable with λ =

question 3

Essay

Let X be an exponential random variable with λ = 1.50.Find the following:
a.P(X ≥ 2)
b.P(X ≤ 4)
c.P(1 ≤ X ≤ 3)
d.P(X = 1)

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Definitions:

Bank Reconciliation

The act of reconciling the cash account balances recorded in an organization's bookkeeping with the related data found on a bank statement.

Deposits in Transit

Funds that have been received and recorded by a business but not yet processed by the bank.

Service Charges

Fees charged to customers for specific services or as penalties for not meeting certain criteria such as minimum account balance requirements.

Internal Control Procedure

Processes undertaken by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.