The time an energy saving light bulb will last without failing has an Exponential distribution with a median of 3 years Calculate the probability that a light bulb, selected at random, will last at least 4 years ...

The median is the 50 th perce ...

The time an energy-saving light bulb will last without failing has an Exponential distribution with a median

Question:

The time an energy-saving light bulb will last without failing has an Exponential with a median of 3 years. Calculate the probability that a light bulb, selected at random, will last at least 4 years.
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...