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What is the decay rate

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Reference no: EM132158984

a) The average lifetime of a certain new cell phone is 3 years. The manufacturer will replace any cell phone failing within 2 years of the date of purchase. The lifetime of these cell phones is known to follow an exponential distribution. 

What is the decay rate? (Enter your answer as a fraction.)

b)The Sky Train from the terminal to the rental car and long-term parking center is supposed to arrive every 16 minutes. The waiting times for the train are known to follow a uniform distribution. 

Find the 70th percentile for the waiting times (in minutes).

Reference no: EM132158984

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