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Unformatted text preview: a fee if the waiting time exceeds 3 hours. Suppose that an airplane with 72 passengers waits an exponential amount of time on the runway, with average 1.5 hours. If the waiting time X , in hours, is bigger than 3, then the company pays each customer (100)( X3) dollars (otherwise, the company pays nothing). What is the amount that the company expects to pay for the 72 customers on the airplane altogether? (Of course their waiting times are all the same.) 4 5. Let X be uniform on [0 , 10]. Let Y be exponential with E ( Y ) = 5. Find P ( X < Y ). 5 6. Design your own problem and solution. Create your own problem about one or two exponential random variables. Design your problem in such a way that you would nd it enjoyable and also interesting (i.e., not completely trivial) if you found this problem in a probability book. Please provide the answer for your problem too. 6...
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This note was uploaded on 02/28/2012 for the course STAT 416 taught by Professor Staff during the Fall '08 term at Purdue UniversityWest Lafayette.
 Fall '08
 Staff
 Probability, Standard Deviation

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