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Michael will sell his bike because he will move and he has decided to sell it...

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..

Math   Statistics-And-Probability   
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