The amount of time that a union stays on strike is judged to follow an exponential distribution
Question:
a. Find the probability that a strike lasts less than one day.
b. Find the probability that a strike lasts less than six days.
c. Find the probability that a strike lasts between six and seven days.
d. Find the conditional probability that a strike lasts less than seven days, given that it already has lasted six days. Compare your answer to part a.
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If the mean is 10 days then m 110 01 a PE T 1 m 01 1 e10...View the full answer
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Related Book For 
Making Hard Decisions with decision tools
ISBN: 978-0538797573
3rd edition
Authors: Robert Clemen, Terence Reilly
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