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Use the following information to answer the next ten exercises. A customer service representative must spend different amounts of time with each customer to resolve various concerns. The amount of time spent with each customer can be modeled by the following distribution: \(X \sim Exp(0.2)\) What is the mean?

Short Answer

Expert verified
The mean is 5.

Step by step solution

01

Identify the Distribution

The random variable \( X \) is given as \( X \sim \text{Exp}(0.2) \), which indicates that it follows an exponential distribution with a rate (\( \lambda \)) of 0.2.
02

Recall the Mean Formula for Exponential Distribution

For an exponential distribution with a rate parameter \( \lambda \), the mean \( \mu \) is given by the formula: \[ \mu = \frac{1}{\lambda} \].
03

Substitute the Rate Parameter

Substitute the rate \( \lambda = 0.2 \) into the mean formula: \[ \mu = \frac{1}{0.2} \].
04

Perform the Calculation

Calculate the mean by dividing 1 by 0.2: \( \mu = 5 \).
05

State the Final Answer

The mean of the distribution \( X \sim \text{Exp}(0.2) \) is 5.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Mean of Exponential Distribution
The mean of an exponential distribution is a measure of the average value you might expect from a set of random variables that follow this distribution. The key formula is \( \mu = \frac{1}{\lambda} \), where \( \mu \) represents the mean and \( \lambda \) is the rate parameter. This formula indicates that as the rate parameter changes, so will the mean. A higher rate parameter will result in a smaller mean, and vice versa.

In practical terms, if customers are spending an average of 5 units of time with a service representative, as our exercise suggests, the mean here reflects this average duration. Understanding the mean helps us anticipate the general behavior of the time each customer interaction might require.
Rate Parameter
The rate parameter \( \lambda \) is a crucial part of understanding exponential distributions. It signifies how often an event happens in a given time period, or in this case, how quickly something occurs. The rate parameter is inversely proportional to the mean.

For example:
  • If \( \lambda = 2 \), the process or event is happening faster, leading to a mean of \( \frac{1}{2} = 0.5 \).
  • If \( \lambda = 0.2 \), as in our exercise, the event happens relatively more slowly, with a mean of \( \frac{1}{0.2} = 5 \).

Thus, by looking at \( \lambda \), we can understand both the frequency and the average interval at which an event is expected to occur.
Random Variable
A random variable is a variable whose possible values are numerical outcomes of a random phenomenon. In our example, \( X \) is a random variable representing the time taken to assist a customer. Random variables can be discrete or continuous, and in the case of exponential distribution, \( X \) takes continuous values.

Random variables give us a way to quantify probabilities and patterns in a random process, allowing us to model real-world situations, like customer service times, mathematically. When analyzing such a distribution, thinking in terms of random variables helps understand variability and expected outcomes.
Exponential Distribution Calculation
Calculating values in an exponential distribution involves understanding how the distribution is shaped by its rate parameter. We begin with the basic formula for mean, \( \mu = \frac{1}{\lambda} \). In our example, substituting \( \lambda = 0.2 \) gives us \( \mu = 5 \).

Additionally, probabilities can be calculated to determine the likelihood of certain outcomes, such as finding the probability that a customer call lasts less than a particular time frame. Using exponential distribution probability functions, calculations can be extended to many aspects of the distribution.

Specifically, the probability density function (PDF) for exponential distribution is given by:
  • \( f(x;\lambda) = \lambda \cdot e^{-\lambda x} \) for \( x \geq 0 \)

This formula helps determine how probabilities are spread, enabling detailed statistical analysis of events.

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Most popular questions from this chapter

Suppose that the longevity of a light bulb is exponential with a mean lifetime of eight years. a. Find the probability that a light bulb lasts less than one year. b. Find the probability that a light bulb lasts between six and ten years. c. Seventy percent of all light bulbs last at least how long? d. A company decides to offer a warranty to give refunds to light bulbs whose lifetime is among the lowest two percent of all bulbs. To the nearest month, what should be the cutoff lifetime for the warranty to take place? e. If a light bulb has lasted seven years, what is the probability that it fails within the 8th year.

Use the following information to answer the next ten questions. The data that follow are the square footage (in 1,000 feet squared) of 28 homes. $$\begin{array}{|c|c|c|c|c|c|c|}\hline 1.5 & {2.4} & {3.6} & {2.6} & {1.6} & {2.4} & {2.0} \\ \hline 3.5 & {2.5} & {1.8} & {2.4} & {2.5} & {3.5} & {4.0} \\\ \hline 2.6 & {1.6} & {2.2} & {1.8} & {3.8} & {2.5} & {1.5} \\\\\hline {2.8}&{1.8} &{4.5}&{1.9} &{1.9}& {3.1}& {1.6}\\\\\hline\end{array}$$ $$\text{Table 5.4}$$ The sample mean \(=2.50\) and the sample standard deviation \(=0.8302.\) The distribution can be written as \(X \sim U(1.5,4.5).\) What are the constraints for the values of \(x ?\)

Use the following information to answer the next 16 exercises. Carbon-14 is a radioactive element with a half-life of about 5,730 years. Carbon-14 is said to decay exponentially. The decay rate is 0.000121. We start with one gram of carbon-14. We are interested in the time (years) it takes to decay carbon-14. Find the amount (percent of one gram) of carbon-14 lasting less than \(5,730\) years. This means, find \(P(x < 5,730)\) a. Sketch the graph, and shade the area of interest. b. Find the probability. \(P(x<5,730)=\)_________

Use the following information to answer the next seven exercises. A distribution is given as \(X \sim \operatorname{Exp}(0.75).\) Find the median.

For each probability and percentile problem, draw the picture. Consider the following experiment. You are one of 100 people enlisted to take part in a study to determine the percent of nurses in America with an R.N. (registered nurse) degree. You ask nurses if they have an R.N. degree. The nurses answer 鈥測es鈥 or 鈥渘o.鈥 You then calculate the percentage of nurses with an R.N. degree. You give that percentage to your supervisor. a. What part of the experiment will yield discrete data? b. What part of the experiment will yield continuous data?

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