Question 1
LetX = the time (in minutes) that a postal clerk spends with her customers. This time is known to have an exponential distribution with an average of 4 minutes. What is the parameterλfor this random variable?
◦
4
◦
2
◦
0.5
◦
0.25
Question 2
LetX = the time (in minutes) that a postal clerk spends with her customers. This time is known to have an exponential distribution with an average of 4 minutes. What is the variance for this distribution?
◦
16
◦
0.25
◦
0.0625
◦
0.025