I have the following question to solve:
Q:Time until a metal "death" is modeled as X~Exponential (0.14). Calculate the probability that time until death is lower or equal to 4 based on the empirical distribution function. Calculate also the theoretical value of that probability. Please indicate the absolute value for the difference between theoretical value and estimated value of that probability.
I know how to calculate the probability that time until death is lower or equal to 4 using the distribution function of exponential but what is the "theoretical value of that probability"?
Thanks