Textbook ExpertVerified Tutor
16 Nov 2021
Given information
The time (in years) after reaching age 
that it takes an individual to retire is approximately exponentially distributed with a mean of about five years. Suppose we randomly pick one retired individual. We are interested in the time after age to retirement.
Step-by-step explanation
Step 1.
First the probability of people being more than 
years of age is calculated as follows:
Then, the expected number of people who will NOT have retired yet is calculated as follows:
The number of people expected NOT to have retired yet is given as follows:
Therefore, the number of people expected NOT to have retired yet are 
.
Unlock all Textbook Solutions
Already have an account? Log in
Introductory Statistics
OER Edition, 2013
Openstax
ISBN: 9781938168208
Solutions
Chapter
Section
- Problem 74c
- Problem 76f
- Problem 77f
- Problem 77g
- Problem 77h
- Problem 77i
- Problem 78a
- Problem 78b
- Problem 78c
- Problem 78d
- Problem 78e
- Problem 78f
- Problem 78g
- Problem 78h
- Problem 78i
- Problem 79
- Problem 80
- Problem 81
- Problem 82a
- Problem 82b
- Problem 82c
- Problem 82d
- Problem 82e
- Problem 82f
- Problem 82g
- Problem 82h
- Problem 82i
- Problem 82j
- Problem 82k
- Problem 82l
- Problem 83a
- Problem 83b
- Problem 83c
- Problem 83d
- Problem 84a
- Problem 84b
- Problem 85a
- Problem 85b
- Problem 85c
- Problem 85c
- Problem 85d
- Problem 86a
- Problem 86b
- Problem 86c
- Problem 86d
- Problem 86e
- Problem 86f
- Problem 86g
- Problem 86h
- Problem 86i
- Problem 86j
- Problem 87a
- Problem 87b
- Problem 87c
- Problem 87d
- Problem 87e
- Problem 87f
- Problem 87g
- Problem 88a
- Problem 88b
- Problem 88d
- Problem 88e
- Problem 88f
- Problem 88g
- Problem 88h
- Problem 88i
- Problem 89a
- Problem 89b
- Problem 89c
- Problem 89d
- Problem 89e
- Problem 89f
- Problem 89g
- Problem 89h
- Problem 89i
- Problem 90a
- Problem 90b
- Problem 90c
- Problem 90d
- Problem 90e
- Problem 90f
- Problem 91
- Problem 92
- Problem 93
- Problem 94a
- Problem 94b
- Problem 94c
- Problem 94d
- Problem 94e
- Problem 94f
- Problem 94f
- Problem 94g
- Problem 94h
- Problem 95a
- Problem 95b
- Problem 95c
- Problem 95d
- Problem 95e
- Problem 96a
- Problem 96b
- Problem 96c
- Problem 96d
- Problem 96e
- Problem 97a
- Problem 97b
- Problem 97c
- Problem 98a
- Problem 98b
- Problem 98c
- Problem 98d
- Problem 99a
- Problem 99b
- Problem 99c
- Problem 100a
- Problem 100b
- Problem 100c
- Problem 100d
- Problem 101a
- Problem 101b
- Problem 101c
- Problem 101d