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Q 1/2+3+5]: Suppose that the waiting time for the first customer to enter a retail shop after 9:00AM is a random variable Y with an
Q 1/2+3+5]: Suppose that the waiting time for the first customer to enter a retail shop after 9:00AM is a random variable Y with an exponential distribution density function given by
f(x) = {(3) for y>0 elsewhere
where > 0.
(a) Find PY>0.
(b) Find the moment generating function for Y.
(c) Use the answer from the above part (b) to find E(Y) and V(Y).
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