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:

Consumer's

Related to or involving the actions and decisions of individuals who purchase goods and services for personal use.

Utility

a measure of satisfaction or happiness that a person derives from consuming goods and services.

Satisfaction

The level of contentment or fulfillment received from consuming a product or service.

Usefulness

The ability or quality of being able to serve a purpose effectively or efficiently.