The lifetime of a microprocessor is exponentially distributed with mean 3000 hours. a) What proportion of microprocessors will fail within 300 hours? b) What proportion of microprocessors will function for more than 6000 hours? c) A new microprocessor is installed alongside one that has been functioning for 1000 hours. Assume the two microprocessors function independently. What is the probability that the new one fails before the old one?

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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.