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Mathematics, 11.06.2021 19:10 edisonsitesuper9312

The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The mean cost per item is $3.50. What is the percentage of items that cost: A. Less than $1? ROUND YOUR ANSWER TO 4 DECIMAL PLACES!!

B. More than $4? ROUND YOUR ANSWER TO 4 DECIMAL PLACES!!

C. Between $2 and $3? ROUND YOUR ANSWER TO 4 DECIMAL PLACES!!!

D. Find the 40th percentile. Sixty percent of the supermarket items cost more than what amount? ROUND YOUR ANSWER TO 2 DECIMAL PLACES!!

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The cost per item at a supermarket follows an exponential distribution. There are many inexpensive i...
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