The initial value of an appliance is $700 and its dollar value in the future is given

Question:

The initial value of an appliance is $700 and its dollar value in the future is given by

Where t is time in years. Thus, after the first three years, the appliance is worth nothing as far as the warranty is concerned. If it fails in the first three years, the warranty pays v(t). Compute the expected value of the payment on the warranty if T has an exponential distribution with mean 5.

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...