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QUESTION 7 Empire Electronics manufactures its own k-cup coffee makers. The lifespan of its base model is exponentially distributed with a mean of 4 years.
QUESTION 7 Empire Electronics manufactures its own k-cup coffee makers. The lifespan of its base model is exponentially distributed with a mean of 4 years. This retail chain has promoted a five-year warranty on this household appliance. Assume the time between manufacture and sale is negligible. What percentage of all base model k-cup coffee makers should Empire Electronics expect to need to replace during the warranty period? Express your answer rounded to the nearest whole percentage with percent symbol. 2.5 points
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