Question: Please help me 0 Question? 7 _ The time [in years} after reaching age :52 that it takes an individual to retire is approximately exponentially

Please help me

Please help me 0 Question? 7 _ The time [in years} after

0 Question? 7 _ The time [in years} after reaching age :52 that it takes an individual to retire is approximately exponentially distributed with a mean of about 10 years. Suppose we randomly pick one retired individual. We are interested in the time after age 62 to retirement. a} p = :|. {Round to 1 decimal place} b} o = E. [Round to 2 decimal places} c) Find the probability that the person retired after age Ti. :] Round to 4 decimal places. d} Find the probability that the person retired before age ?2. :] Round to 4 decimal places e] Find the probability that the person retired after age T2. :] Round to 4 decimal places f} In a room of 3000 people over age ?4, how many do you expect will NOT have retired yet? :| Round the probability to 4 decimal places. Round answer to 2 decimal places

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!