When crossing the Golden Gate Bridge, traveling into San Francisco, all drivers must pay a toll. Suppose

Question:

When crossing the Golden Gate Bridge, traveling into San Francisco, all drivers must pay a toll. Suppose the amount of time (in minutes) drivers wait in line to pay the toll follows an exponential distribution with a probability density function of f (x) 5 0.2e 20.2 x .

a. What is the mean waiting time that drivers face when entering San Francisco via the Golden Gate Bridge?

b. What is the probability that a driver spends more than the average time to pay the toll?

c. What is the probability that a driver spends more than 10 minutes to pay the toll?

d. What is the probability that a driver spends between 4 and 6 minutes to pay the toll?

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...