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SOLVED:The exponential probability distribution can be used to model waiting time in line or the lifetime of electronic components. Its density function is skewed right. Suppose the wait-time in a line can be modeled by the exponential distribution with μ=σ=5 minutes. (a) Simulate obtaining a random sample of 15 wait-times. (b) Explain why constructing a 95 % confidence interval using Student's t -distribution is a bad idea. Nonetheless, construct a 95 % confidence interval using Student's t -di
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