For each probability and percentile problem, draw the picture.
The time (in years) after reaching age 60 that it takes an individual to retire is approximately
exponentially distributed with a mean of about 5 years. Suppose we randomly pick one retired
individual. We are interested in the time after age 60 to retirement.
In words, define the Random Variable X.
age, in years, of an individual when he or she retires
the number of individuals who retire after age 60
time, in years, after age 60, that it takes an individual to retire
time, in years, that an individual must work before retiring
Is X continuous or discrete?
continuous or discrete
Give the distribution of X. (Enter the numerical value as a fraction.)
X ~______ ( ______ )
Enter an exact number as an integer, fraction, or decimal.
=
Enter an exact number as an integer, fraction, or decimal.
=
Draw a graph of the probability distribution.
Find the probability that the person retired after age 68. (Round your answer to four decimal
places.)____
Do more people retire before age 65 or after age 65?
before or after
In a room of 1,000 people over age 79, how many do you expect will NOT have retired yet?
(Round your answer to the nearest whole number.)
people____
.
For each probability and percentile problem, draw the picture. T.pdf
1. For each probability and percentile problem, draw the picture.
The time (in years) after reaching age 60 that it takes an individual to retire is approximately
exponentially distributed with a mean of about 5 years. Suppose we randomly pick one retired
individual. We are interested in the time after age 60 to retirement.
In words, define the Random Variable X.
age, in years, of an individual when he or she retires
the number of individuals who retire after age 60
time, in years, after age 60, that it takes an individual to retire
time, in years, that an individual must work before retiring
Is X continuous or discrete?
continuous or discrete
Give the distribution of X. (Enter the numerical value as a fraction.)
X ~______ ( ______ )
Enter an exact number as an integer, fraction, or decimal.
=
Enter an exact number as an integer, fraction, or decimal.
=
Draw a graph of the probability distribution.
Find the probability that the person retired after age 68. (Round your answer to four decimal
places.)____
Do more people retire before age 65 or after age 65?
before or after
In a room of 1,000 people over age 79, how many do you expect will NOT have retired yet?
(Round your answer to the nearest whole number.)
people____
