The cost per item at a supermarket follows an exponential

Reference no: EM13644578

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 $4.00. What is the percentage of items that cost:

a. Less than $2.00? (Round your answer to 4 decimal places.)

b. More than $3.00? (Round your answer to 4 decimal places.)

c. Between $2.50 and $3.50? (Round your answer to 4 decimal places.)

d. Find the 20th percentile. Eighty percent of the supermarket items cost more than what amount?(Round your answer to 2 decimal places.)

Reference no: EM13644578

Questions Cloud

An experimental drug has been shown to be 75 effective in : an experimental drug has been shown to be 75 effective in eliminating symptoms of allergies in animal studies. a small

Suppose that x is a geometric random variable a prove that : suppose that x is a geometric random variable. a prove that for positive integers n and k pxnkxgtnpxk. bexplain what

A door-to-door residential solar electrical system salesman : a door-to-door residential solar electrical system salesman is required to document four in-home visits each day.

Time taken by a randomly selected applicant for a mortgage : 1. rockwell hardness of pins of a certain type is known to have a mean value of 50 and a standard deviation of 1.2.

The cost per item at a supermarket follows an exponential : the cost per item at a supermarket follows an exponential distribution. there are many inexpensive items and a few

Find the net power output of this plant and the required : a small rankine power plant produces 25 kgs of steam at 3 mpa and 600degc in the boiler. it uses water from a river to

A recent study of cardiovascular risk factors reported that : 1. diastolic blood pressure are approximately normally distributed with a mean of 75 and a standard deviation of 10 a.

The boiler pressure is 30 mpa and the cycle has a high : a utility plant runs an ideal rankine cycle with water. the boiler pressure is 3.0 mpa and the cycle has a high

If stocks 1 and 2 have expected returns of 009 and 010 per : in order to fund her retirement michele requires a portfolio with an expected return of 0.10 per year over the next 30

User Account

All Pages