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The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The mean cost per item is $8.00. What is the percentage of items that cost:

A. Less than $5.00 (round to 4 decimal places)

B. More than $9.00 (round to 4 decimal places)

C. Between $6.00 and $8.00 (round to 4 decimal places)

D. Find the 40th percentile. 60% of the supermarket items cost more than what amount?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91016422

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