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(a) Suppose that the length of time t (in days) between sales for an automobile salesperson...

(a) Suppose that the length of time t (in days) between sales for an automobile salesperson is modelled as the following distribution: f(t) = 0.5e-0.5t , where t ≥ 0

(i) Identify the name of the probability model. Solve for the probability that the salesperson goes more than 5 days without a sale.

ii) What is the mean and variance of t?

(iii) Apply suitable formulas to find the quantile q0.95 for t.

Math   Statistics-And-Probability   
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