The exponential distribution has a characteristic that is called the memory less property. This means P (X

Question:

The exponential has a characteristic that is called the “memory less” property. This means P (X > x) = P (X > x + x0 | X > x0). To illustrate this, consider the calls coming into 911. Suppose that the of the time between occurrences has an exponential with a mean of one half hour (= 0.5).
a. Calculate the probability that no calls come in during the first hour.
b. Now suppose that you are monitoring the call frequency, and you note that a call does not come in during the first two hours. Determine the probability that no calls will come in during the next hour. 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...