The average lifetime of a certain new cell phone is 3 years. The manufacturer wi

Question

The average lifetime of a certain new cell phone is 3 years. The manufacturer will replace any cell phone failing within 2 years of the date of purchase. The lifetime of these cell phones is known to follow an exponential distribution.
What is the decay rate? (Enter your answer as a fraction.)
The average lifetime of a certain new cell phone is 3 years. The manufacturer will replace any cell phone failing within 2 years of the date of purchase. The lifetime of these cell phones is known to follow an exponential distribution.
What is the decay rate? (Enter your answer as a fraction.)
The average lifetime of a certain new cell phone is 3 years. The manufacturer will replace any cell phone failing within 2 years of the date of purchase. The lifetime of these cell phones is known to follow an exponential distribution.
What is the decay rate? (Enter your answer as a fraction.)

Explanation / Answer

Solution:

Average lifetime of certain new cell phone  =3

The decay rate: m=1/

=1/3

=0.3333

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