Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose that the distance, in miles, that people are willing to commute to work is an exponential random variable with mean 15 miles. (a) What
Suppose that the distance, in miles, that people are willing to commute to work is an exponential random variable with mean 15 miles. (a) What percentage of people are willing to commute at most 14 miles to work? (b) 55% of people are willing to commute at most how many miles to work? (c) 18% of people are willing to commute at least how many miles to work?
We are given that the distance that people are willing to commute to work follows an exponential distribution with mean 15 miles. Recall that the probability density function of an exponential distribution is given by: where $\\mu$ is the mean of the distribution. (a) We want to find the percentage of people who are willing to commute at most 14 miles to work, i.e., we want to find $P(X \\qu 14)$, where $X$ is the distance that people are willing to commute. Since $X$ follows an exponential distribution with mean $\\mu = 15$, we have: 14 1 / e_$/15d:r : 0.4939, 0 15 where we have used a calculator or software to compute the integral. Therefore, about 49.39% of people are willing to commute at most 14 miles to work. (b) We want to find the maximum distance $x$ such that 55% of people are willing to commute at most $x$ miles to work. In other words, we want to find $x$ such that $P(X \\leq x) = 055$. Since $X$ follows an exponential distribution with mean $\\mu = 15$, we have: m 1 / e_t/15dt= 1 _ ear/15- 0 15 Setting $P(X \\leq x) = 055$, we get: 0.55 : 1 efl\". Solving for $x$, we have: m : 15111(0.45) % 9.82. Therefore, 55% of people are willing to commute at most 9.82 miles to work. (c) We want to find the minimum distance $x$ such that 18% of people are willing to commute at least $x$ miles to work. In other words, we want to find $x$ such that $P(X \\geq X) = 018$. Since $X$ follows an exponential distribution with mean $\\mu = 15$, we have: Setting $P(X \\geq x) = 018$, we get: 0.18 = term/15. Solving for $x$, we have: a: = 15111(0.18) % 28.27. Therefore, 18% of people are willing to commute at least 28.27 miles to workStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started