89 The time in years after reaching age 60 that it takes an

Last updated: 11/2/2023

89 The time in years after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about five years Suppose we randomly pick one retired individual We are interested in the time after age 60 to retirement a Define the random variable X b Is X continuous or discrete C X d e f Draw a graph of the probability distribution Label the axes g Find the probability that the person retired after age 70 h Do more people retire before age 65 or after age 65