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The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about6years. Suppose

The time (in years)afterreaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about6years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement.

Find the probability that the person retired after age71. (Round your answer to four decimal places.)

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