Solved: The time to complete 1 construction project for company a, Basic Statistics

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The time to complete 1 construction project for company a

The time to complete 1 construction project for company A is exponentially distributed with a mean of 1 year. Therefore:

(a) What is the probability that a project will be finished in one and half years?

(b) What is the probability a project will take more than one year but less than two years?

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Basic Statistics: The time to complete 1 construction project for company a

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