The Life Span of Car Stereos Manufactured by a Certain $f ( x ) = \left\{ \begin{array} { l l } 0.2 e ^ { - 0.2 x } & \text { if } x \geq 0 \\0 & \text { if } x < 0\end{array} \right.$

question 1

Multiple Choice

The life span of car stereos manufactured by a certain company is measured by a random variable X that is exponentially distributed with a probability density function $f ( x ) = \left\{ \begin{array} { l l } 0.2 e ^ { - 0.2 x } & \text { if } x \geq 0 \\0 & \text { if } x < 0\end{array} \right.$ where x is the life span in years of a randomly selected stereo.What is the probability that the life span of a randomly selected stereo is between 1 and 11 years? Round to the nearest hundredth.

• A)0.64
• B)0.71
• C)0.35
• D)0.78

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Definitions:

Short-Run Aggregate Supply Curve

A graphical representation showing the relationship between the total production of goods and services and the price level for output in the short run.

Actual Price Level

The current general price of goods and services in the economy.

Expected Price Level

This refers to the anticipation or forecast of future prices of goods and services in the economy, often influencing consumer and business decisions.

Foreign-Currency Exchange

The process of exchanging one currency for another, which involves determining the rate at which two currencies will be swapped.