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The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The...

This question was answered on Jul 20, 2016. View the Answer

The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The mean cost per item is $9.00. What is the percentage of items that cost:

 


 8. value:

10.00 points Required information  

a. Less than $6.00? (Round your answer to 4 decimal places.)

  

  Probability   

  
 

References eBook & Resources WorksheetDifficulty: 2 IntermediateLearning Objective: 07-05 Describe the exponential probability distribution and use it to calculate probabilities.Check my work



 9. value:

10.00 points Required information  

b. More than $10.00? (Round your answer to 4 decimal places.)

  

  Probability   

References eBook & Resources WorksheetDifficulty: 2 IntermediateLearning Objective: 07-05 Describe the exponential probability distribution and use it to calculate probabilities.Check my work



 10. value:

10.00 points Required information  

c. Between $7.00 and $9.00? (Round your answer to 4 decimal places.)

  

  Probability   

References eBook & Resources WorksheetDifficulty: 2 IntermediateLearning Objective: 07-05 Describe the exponential probability distribution and use it to calculate probabilities.Check my work



 11. value:

10.00 points Required information  

d.

Find the 45th percentile. Fifty five percent of the supermarket items cost more than what amount?(Round your answer to 2 decimal places.)

  

  Amount $   


Top Answer

exponential distribution mean = 1/lambda = 9 lambda = 1/9 A) P(x<6) = 1 -... View the full answer

Other Answers

Here is the answer... View the full answer

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This question was asked on Jul 20, 2016 and answered on Jul 20, 2016.

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