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What is the probability that a project will be finished

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Reference no: EM132122668

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?

(c) If company A works on projects nonstop, what is the probability that four projects will be finished in three years?

Reference no: EM132122668

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