Hey mcleja.
Hint: What does the lambda represent? (Think in terms of the mean and sample mean).
Hi all, i have to answer the following question:
Suppose that the lifetime, T for a electric motor follows an exponential distribution. If 6% of the motor fail within a year, find the lambda parameter for the exponential distribution.
I have no idea how to do this could anybody help me?
Thank you.
That's the question. :-) You need to get , but you have all other parameters to put into the formula. From the question, you know the probability and you also know that it takes from 0 to 1 year. Then solve for the only remaining variable in the formula for the cumulative distribution function.