The length of a particular telemarketing phone call, x, has an exponential distribution with mean equal to

Question:

The length of a particular telemarketing phone call, x, has an exponential distribution with mean equal to 1.5 minutes.

a. Write the formula for the exponential probability curve of x.

b. Sketch the probability curve of x.

c. Find the probability that the length of a randomly selected call will be: (1) No more than three minutes. (2) Between one and two minutes. (3) More than four minutes. (4) Less than 30 seconds.

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...