question archive An engineering firm is planning to buy an electrical equipment whose life span is exponentially distributed with a mean of 15 years

An engineering firm is planning to buy an electrical equipment whose life span is exponentially distributed with a mean of 15 years

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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

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