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The time it takes to completely tune an engine of an automobile Y follows an exponential distribution with a mean of 40 minutes. Please answer the following questions.
(a) What is the probability of tuning an engine in 20 minutes or less?
(b) What is the probability of tuning an engine between 20 and 50 minutes?
(c) What is the standard deviation of the variable Z?
The reasons to model are necessity, to make better decisions, insight, intuition, and documenting the process.
Actually, there are 175 students. The college had expected to receive, on average, $ 1,500 per students, after taking scholarship into account.
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Calculate the two equal payments that would replace these payments,
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Judy Garland is planning to open a stall at the local mall, paying $2500 rent, in advance each month. She will buy $25,000 in costume jewelry as the initial inventory, and buy the display cases for $4000. Assume that all the cash flows occur at the e..
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