Mathematics, 07.11.2019 02:31 getse61
Acalifornia water company has determined that the average customer billing is $1,100 per year and the amounts billed have an exponential distribution. a. calculate the probability that a randomly chosen customer would spend more than $ 4,000. b. compute the probability that a randomly chosen customer would spend more than the average amount spent by all customers of this company.
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Having a hard time understanding this question (see attachment).
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Acalifornia water company has determined that the average customer billing is $1,100 per year and th...
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