Let X = the time between two successive arrivals at the drive-up window of a local bank.

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Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with λ = 1 (which is identical to a standard gamma distribution with α = 1), compute the following:
a. The expected time between two successive arrivals
b. The standard deviation of the time between successive arrivals
c. P(X ≤ 4)
d. P(2 ≤ X ≤ 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...
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