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Jenter-Internet Explorer https/www.mathul.com/Student/PlayerTest.aspxtestid-166566177&centerwineyes; ECO 271 Business Statistics I Fall 2017Ashley Spenc Quiz: Test 3 Time Lim This Question: 5 pts 8 of 20 (6 complete) This Let x be an exponential random variable with = 0.5. Calculate the probabilities described below a. P(x 8) c. P(7 sxs8) d. the probability that x is at most 8 a. P(x 8)= (Round to four decimal places as needed.) c.P(7sxs8)- (Round to four decimal places as needed ) d. The probability thatx is at most 8 is Round to four decimal places as needed) Enter your answer in each of the answer boxes

Explanation / Answer

a) P(X<7)

use excel function

EXPON.DIST(6,0.5,TRUE)

= 0.9502

b) P(X>8)

use excel function

1-EXPON.DIST(8,0.5,TRUE)

= 0.0183

c) P(7<=X<=8)

Use excel function

EXPON.DIST(8,0.5,TRUE)-EXPON.DIST6,0.5,TRUE)

= 0.0315

d) P(X<=8)

use excel function

EXPON.DIST(8,0.5,TRUE)

= 0.9817

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