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The average lifetime of a set of tires is three years. The manufacturer will replace any set of tires failing within two years of the
The average lifetime of a set of tires is three years. The manufacturer will replace any set of tires failing within two 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 two years of the date of purchase?
a) 0.8647
b) 0.2212
c) 0.4866
d) 0.9997
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