A manufacturer of light bulbs finds thatthe mean lifetime of a bulb is 1200 hours. Assume the life of a bulbis exponentially distributed.a. Find the probability that a bulb will last less than its guaranteed lifetime of 1000 hours.b. In a batch of light bulbs, what is the expected time until halfthe light bulbs in the batch fail?

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.