Question: 3. [32 pts toal] Let X be the time between two successive arrivals at the drive-through window of a local bank. If X has an

3. [32 pts toal] Let X be the time between two successive arrivals at the drive-through window of a local bank. If X has an Gamma distribution with shape and scale parameters a = 3 = 1, answer the following: (a) [7 pts] Show that the distribution of X is equivalent to an exponential distribution with mean parameter B = 1. [Hint: remember that the pdf uniquely identifies a distribution] (b) [5 pts] Find the expectation and variance of the time between two successive arrivals. (c) [5 pts] Compute the probability P(X

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

3. [32 pts toal] Let X be the time between two successive arrivals at the drive-through window of a local bank. If X has an Gamma distribution with shape and scale parameters = = 1, answer the...

Let X be the time between two successive arrivals at the drive-through window of a local bank. If X has an Gamma distribution with shape and scale parameters = = 1, answer the following: Show that...

Let X be the time between two successive arrivals at the drive-through window of a local bank. If X has an Gamma distribution with shape and scale parameters = = 1, answer the following: Find the...

Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with ? = 1, (which is identical to a standard gamma distribution with ? =...

The current in a certain circuit as measured by an ammeter is a continuous random variable X with the following density function. f ( x ) = 0.075 x +0.2 3 x 5 0 otherwise (a) Graph the pdf. Verify...

Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with 2 = 1, (which is identical to a standard gamma distribution with a =...

need help please Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with 1 = 1, (which is identical to a standard gamma...

please help Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with 1 = 1, (which is identical to a standard gamma...

Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with = 1 (which is identical to a standard gamma distribution with =...

also need pdf and cdf thank you Let X = the time between two successive arrivals at the drive-up window of a local bank. If X has an exponential distribution with A = 1 (which is identical to a...

Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why?

If you expect to receive 500 million Euros next year, what would be your expected cash flow if you hedge using forwards? What would it be if you don't hedge, but convert it at the final spot rate?

Question 2 4 The efficient market hypothesis requires financial markets to be competitive prices to adjust rapidly prices of undervalued securities to fall 1 and 2 1 and 3 2 and 3 all of the above

Create a pivot table that shows the total amount of unpaid invoices for Fishbowl vendor in the month of March 2017. Answer the following two questions and type your answers in cells A15 and A16...

3. What interview questions can help to reveal the accuracy of a candidates CV?

1. Why do people tell lies on their CVs?

2. What is the difference between an embellishment and a lie?