The delivery time of a shipment from a supplier to a retailer is exponentially distributed with mean 7 days. The supplier must deliver a shipment by 14 days. What is the probability that shipment takes more than 14 days? Show your work.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...
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The delivery time of a shipment from a supplier to a retailer is exponentially
distributed with mean 7 days. The supplier must deliver a shipment by 14 days.
What is the probability that shipment takes more than 14 days? Show your work.
Transcribed Image Text:The delivery time of a shipment from a supplier to a retailer is exponentially distributed with mean 7 days. The supplier must deliver a shipment by 14 days. What is the probability that shipment takes more than 14 days? Show your work.
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