MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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1. Suppose you are a technician, whose repair time on a given job is said to follow an exponential distribution with expected time θ = 3 hours. You have 5 independent jobs lined up (you complete them sequentially, one by one)?
a. What is the expected amount of time it will take you to finish the 5 jobs you have? What is the variance of the true time?
b. Now say you charge $250 per hour. How many dollars do you expect to make on a given job? How many dollars do you expect to make finishing all the jobs you have lined up
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