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The lifespan of a refrigerator made by General Electric (GE) costing $1930 has a mean life of 3.03 years, exponentially distributed. GE agrees to pay a full refund (100%) to a buyer if the refrigerator breaks during the first six months following its purchase and a 50% refund if it breaks during months 6-12. There is no refund for refrigerator that break after 12 months. If GE sells 290 refrigerator, how much should it expect to pay in refunds? (Round to two decimal places) Submit Question

The lifespan of a refrigerator made by General Electric (GE) costing $1930 has a mean life of 3.03 years, exponentially distributed. GE agrees to pay a full refund (100%) to a buyer if the refrigerator breaks during the first six months following its purchase and a 50% refund if it breaks during months 6-12. There is no refund for refrigerator that break after 12 months. If GE sells 290 refrigerator, how much should it expect to pay in refunds? (Round to two decimal places) Submit Question

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The lifespan of a refrigerator made by General Electric (GE) costing $1930 has a mean life of 3.03 years, exponentially distributed. GE agrees to pay a full refund (100%) to a buyer if the refrigerator breaks during the first six months following its purchase and a 50% refund if it breaks during months 6-12. There is no refund for refrigerator that break after 12 months. If GE sells 290 refrigerator, how much should it expect to pay in refunds? (Round to two decimal places) Submit Question
Transcribed Image Text:The lifespan of a refrigerator made by General Electric (GE) costing $1930 has a mean life of 3.03 years, exponentially distributed. GE agrees to pay a full refund (100%) to a buyer if the refrigerator breaks during the first six months following its purchase and a 50% refund if it breaks during months 6-12. There is no refund for refrigerator that break after 12 months. If GE sells 290 refrigerator, how much should it expect to pay in refunds? (Round to two decimal places) Submit Question
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