The average lifetime of a set of tires is 3.4 years. The manufacturer will replace any set of tires failing within three years of the date of purchase. The lifetime of these tires is known to follow an exponential distribution. What is the probability that the tires will fail within three years of the date of purchase?

the probability that the tires will fail within three years of the date of purchase is 0.12

Step-by-step explanation:

The average lifetime of a set of tires is 3.4 years. It means that μ = 3.4

Decay parameter, m = 1/3.4 = 0.294

The probability density function is

f(x) = me^-mx

Where x is a continuous random variable representing the time interval of interest(the reliability period that we are testing)

Since x = 3 years,

Therefore, the probability that the tires will fail within three years of the date of purchase is

f(3) = 0.294e^-(0.294 × 3)

f(3) = 0.294e^- 0.882

f(3) = 0.12