On Average,a Certain Kind of Kitchen Appliance Requires Repairs Once

question 87

Multiple Choice

On average,a certain kind of kitchen appliance requires repairs once every four years.Assume that the times between repairs are exponentially distributed.Which of the following Excel commands computes the probability that the appliance will work at least six years without requiring repairs?

• A) 0.7769
• B) 0.3456
• C) 0.6544
• D) 0.2231

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Definitions:

Persistent Unemployment

The continuous existence of high levels of unemployment within an economy over an extended period, often indicating structural economic problems.

Mainstream Economics

A body of economic thought and theory that is widely accepted and practiced by economists and policy makers, characterized by a focus on markets, efficiency, and equilibrium.

Paid

Receiving money or compensation in exchange for work or services rendered.

Bilateral Authority

The power or governance shared by two parties, typically in the context of decision-making processes or agreements.