Spend in one trip to the supermarket

Reference no: EM131824331

The amount of money a customer spends in one trip to the supermarket is known to have an exponential distribution. Suppose the mean amount of money a customer spends in one trip to the supermarket is $72.

Suppose 5 customers pool their money. (They are poor college students.) How much money altogether would you expect the 5 customers to spend in one trip to the supermarket (in dollars)?

Reference no: EM131824331

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