MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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For each probability and percentile problem, draw the picture.
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.
In a room of 1,000 people over age 79, how many do you expect will NOT have retired yet? (Round your answer to the nearest whole number.)
people
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