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Suppose that the amount of change, in dollars, in a WWU student's pocket is exponentially distributed with a mean of $0.27. If you randomly sample
Suppose that the amount of change, in dollars, in a WWU student's pocket is exponentially distributed with a mean of $0.27.
If you randomly sample 40 WCC students, what is the probability that the mean amount of change in their pockets is more than $0.27 ?
In other words,
if X represents the random variable for the amount of change in an individual WCC student's pocket,
and if X is exponentially distributed with a mean equal to 0.27,
then what is P(X>0.27) equal to?
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