Question

Suppose that engineers at porsche endeavor (at some point in the future) to verify the accuracy of 's claim that the average lifespan of a porsche is 10.6 years. so they collect a simple random sample of porsches and record their lifespans. they know the lifespans to have an exponential distribution but do not know the failure rate . they would like to use the 100 known data points to estimate the average lifespan of a porsche

Answer 1

To estimate the average lifespan of a Porsche, the engineers can use a simple random sample and the mean of the sample. Since the lifespans follow an exponential distribution, the failure rate needs to be estimated using the known data points.

Step-by-step explanation:

The engineers at Porsche want to estimate the average lifespan of a Porsche. They collect a simple random sample of Porsches and record their lifespans. They assume that the lifespans of Porsches follow an exponential distribution. To estimate the average lifespan, they can use the mean of the sample. Since they do not know the failure rate of the distribution, they need to use the 100 known data points to estimate it.