question archive An engineering firm is planning to buy an electrical equipment whose life span is exponentially distributed with a mean of 15 years
Subject:StatisticsPrice: Bought3
An engineering firm is planning to buy an electrical equipment whose life span is exponentially distributed with a mean of 15 years.the firm has a plan to use the equipment for 13 years only and to save money.the firm bought a 4 years old one. what is the probability that the equipment fails during the firm ownership