For an exponential distribution, the memoryless property applies, meaning:
P(X > s + t | X > s) = P(X > t)
Here, we have:
Using the exponential survival function:
P(X > 10) = eβΞ» Γ 10
Substituting the value of Ξ»:
P(X > 10) = eβ1/5
| Year | Price of Apple | Quantity of Apple | Price of Banana | Quantity of Banana |
| 2010 | 1 | 100 | 2 | 50 |
| 2011 | 1 | 200 | 2 | 100 |
| 2012 | 2 | 200 | 4 | 100 |
, 0, π₯ β₯ 0 otherwise , 