The delivery time of a shipment from a supplier to a retailer is exponentially distributed with mean 7 days. The supplier must deliver a shipment by 14 days. What is the probability that shipment takes more than 14 days? Show your work.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 63E: Determine if the statement is true or false. If the statement is false, then correct it and make it...
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The delivery time of a shipment from a supplier to a retailer is exponentially
distributed with mean 7 days. The supplier must deliver a shipment by 14 days.
What is the probability that shipment takes more than 14 days? Show your work.
Transcribed Image Text:The delivery time of a shipment from a supplier to a retailer is exponentially distributed with mean 7 days. The supplier must deliver a shipment by 14 days. What is the probability that shipment takes more than 14 days? Show your work.
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