Question: i need handwritten solution note: plagiarsm free and step by step Problem 1 (10 points). Joyce is looking to buy a new phone in the

i need handwritten solution

note: plagiarsm free and step by step

Problem 1 (10 points). Joyce is looking to buy a new phone in the next two weeks. The time between sales on the phone is exponentially distributed with mean 30 days. (a) Assuming the regular price of the phone is $300 and the sale price is $200, what is the expected price that Joyce will pay for a phone? (b) Given that the phone has not gone on sale in the past week, what is the probability that the phone will go on sale within the next two weeks

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