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Example 5.8 from Statistics, 5.3 The Exponential Distribution (Optional)
c. Which is larger, the mean or the median?
Work it out on paper first. Then open the solution one step at a time, and stop as soon as you can finish on your own.
c. From Part b, the median or 50th percentile is 2.8 minutes. The theoretical mean is four minutes. The mean is larger.
How did it go?