The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about 6 years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement. Find the probability that the person retired after age 70. (Round your answer to four decimal places.) In a room of 1,000 people over age 82, how many do you expect will NOT have retired yet? (Round your answer to the nearest whole number.)
The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about 6 years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement. Find the probability that the person retired after age 70. (Round your answer to four decimal places.) In a room of 1,000 people over age 82, how many do you expect will NOT have retired yet? (Round your answer to the nearest whole number.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 5CYU
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The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about 6 years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement.
Find the probability that the person retired after age 70. (Round your answer to four decimal places.)
In a room of 1,000 people over age 82, how many do you expect will NOT have retired yet? (Round your answer to the nearest whole number.)
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