Question: PLEASE BE QUICK AS YOU CAN Assume that the inter-arrival times between buses at a bus stop is exponentially distributed with a mean of 12

PLEASE BE QUICK AS YOU CAN Assume that the

PLEASE BE QUICK AS YOU CAN

Assume that the inter-arrival times between buses at a bus stop is exponentially distributed with a mean of 12 minutes. If a passenger shows up at the bus stop at a random time, what is the probability that the passenger waits at least 8 minutes? Hint: Exponential distribution has the memorylessness property. Write your answer with only two decimal places. For example: 0.23

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