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The average lifetime of a set of tires is 3.4 years. The manufacturer will replace any set of tires failing within three years of the

The average lifetime of a set of tires is 3.4 years. The manufacturer will replace any set of tires failing within three years of the date of purchase. The lifetime of these tires is known to follow an exponential distribution. What is the probability that the tires will fail within three years of the date of purchase?

0.5862

0.4138

0.4866

0.7568

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