Question

The waiting time (in minutes) for a new bitcoin block follows an exponential distribution with? =...

The waiting time (in minutes) for a new bitcoin block follows an exponential distribution with? = 15.
a. What is the probability that no blocks are found within 30 minutes?
b. What is the probability that the waiting time for a new block is between 10 minutes and 20 minutes?

c. What is the probability of finding less than 2 blocks in an hour?

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

a)

Let X denote the waiting time (in minutes). Then

Required probability =

b)

Required probability =

c)

Let Y denote the number of block in a 60 minute interval. Then

Required probability =

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