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The number of traffic accidents at a certain intersection is considered to follow the model of an exponential process with a mean of three accidents
The number of traffic accidents at a certain intersection is considered to follow the model of an exponential process with a mean of three accidents per year. (Round to 4 decimal places)
a. Determine the standard deviation of the waiting times between accidents.
b. Find the probability that more than one year will elapse between one accident and another.
c. Find the probability that less than a month will elapse between one accident and another.
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