Question
You work at a company with a slow elevator. You know that the time until the next elevator follows an exponential distribution with a mean
You work at a company with a slow elevator. You know that the time until the next elevator follows an exponential distribution with a mean wait time of 8 minutes. You get to the elevator and see someone else waiting. They tell you they have already waited 5 minutes. Given that they have waited 5 minutes, what is the probability it is more than 5 more minutes until the next elevator arrives? You can answer this using the definition of conditional probability or for an exponential distribution using the memoryless property. Careful, you are not given lambda here, you are given something else to use to find lambda.
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