A certain type of component can be purchased new or used. Fifty percent of all new components last more than five years, but only 30% of used components last more than five years. Is it possible that the lifetimes of new components are exponentially distributed? Explain.
What will be an ideal response?
No. If the lifetimes were exponentially distributed, the proportion of used components lasting longer than 5 years would be the same as the proportion of new components lasting longer than 5 years, because of the lack of memory property.
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