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Question

Statistics for Economics Question on Probability

Suppose a random variable 𝑋 follows an exponential distribution with mean 50. Then, the value of the conditional probability P(X>70∣X>60) P(X > 70 | X > 60) is

A

e−75e^{\frac{− 7}{ 5}}

B

e−65e^{\frac{−6}{ 5}}

C

e−15e^{\frac{− 1}{ 5}}

D

e−76e^{\frac{− 7}{ 6}}

Answer

e−15e^{\frac{− 1}{ 5}}

Explanation

Solution

The correct answer is (C): e−15e^{\frac{− 1}{ 5}}