Michael will sell his bike because he will move and he has
decided to sell it to the first person who offers at least 200 $.
Suppose that each price offer given for Michael's bike is
independent and exponentially distributed RVs(random variable) with
mean $ 100 each.
a) Michael sold his bike on the Kth offer. Find
PMF(probability mass function) and mean of K
b) Let the amount of offer which is sold by Michael be
X $. Find PDF(Probability density function) of X and mean.
just mathematical solution..
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