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Problem

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Textbook Expert
Textbook ExpertVerified Tutor
16 Nov 2021

Given information

The cost of all maintenance for a car during its first year is approximately exponentially distributed with a mean of 

Step-by-step explanation

Step 1.

As the given information reveals, the random variable is exponentially distributed.

Therefore, the random variable can be noted as follows:

 

With the decay parameter  

 

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