The arrival of an item ordered in Amazon is assumed to follow the exponential distribution with parameter λ. On average, the item is expected to arrive in 2 days. Calculate λ. What is the probability that you will receive the item within the first 24 hours? What is the probability that the item will arrive late after 5 days?
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The arrival of an item ordered in Amazon is assumed to follow the exponential distribution with parameter λ. On average, the item is expected to arrive in 2 days.
- Calculate λ.
- What is the
probability that you will receive the item within the first 24 hours? - What is the probability that the item will arrive late after 5 days?
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