Suppose a number of months before your car battery needs to be replaced follow the exponential distribution

Question:

Suppose a number of months before your car battery needs to be replaced follow the exponential distribution with a mean of 50.0 months.

a. What is the probability that your car battery will need to be replaced within 24 months?

b. What is the probability that your car battery will need to be replaced within 30 to 60 months?

c. What is the probability that your car battery will need to be replaced after 84 months?

d. Use Excel to verify the results from parts a, b, and c.

e. What is the standard deviation for this distribution?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...