3. A California water company has determined that the average customer billing is $1,250 per year...

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3. A California water company has determined that the average customer billing is $1,250 per year...

3. A California water company has determined that the average customer billing is $1,250 per year and the amounts billed have an exponential distribution.

a. What is the mean and lamda?

b. Calculate the probability that a random chosen customer would spend more than $5,000

c. Compute the probability that a random chosen customer would spend more than the average amount spent by all customers of this company.

math Statistics-And-Probability

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