What is the percentage of items


The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The mean cost per item is $4.00. What is the percentage of items that cost:

a. Less than $2.00? (Round your answer to 4 decimal places.)

b. More than $3.00? (Round your answer to 4 decimal places.)

c. Between $2.50 and $3.50? (Round your answer to 4 decimal places.)

d. Find the 20th percentile. Eighty percent of the supermarket items cost more than what amount?(Round your answer to 2 decimal places.)

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Basic Statistics: What is the percentage of items
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