Lucky Lumen light bulbs have an expected life that is exponentially distributed with a mean of 20,000 hours. Determine the probability that one of these light bulbs will lasta. At least 24,000 hoursb. No longer than 4,000 hoursc. Between 4,000 hours and 24,000 hours

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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.