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For each probability and percentile problem, draw the picture. The time (in years) after reaching age...

For each probability and percentile problem, draw the picture.

The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about 7 years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement.

  • Enter an exact number as an integer, fraction, or decimal.
    μ =

  • Part (e)

    Enter an exact number as an integer, fraction, or decimal.
    σ =

  • Find the probability that the person retired after age 72. (Round your answer to four decimal places.)
    In a room of 1,000 people over age 78, how many do you expect will NOT have retired yet? (Round your answer to the nearest whole number.)
    ________people

math   Statistics-And-Probability   
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