A Random Variable X Is Uniformly Distributed Between 45 and 150

question 79

Short Answer

A random variable X is uniformly distributed between 45 and 150.
a. Determine the probability of X = 48.
b. What is the probability of X ≤ 60?
c. What is the probability of X ≥ 50?
d. Determine the expected vale of X and its standard deviation.

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Definitions:

Production Possibilities

The various combinations of goods and services that can be produced in an economy with a given set of resources and technology.

Absolute Advantage

A situation where a producer can produce more goods using the same amount of resources or less than other producers.

Production Possibilities

A graphical representation of the maximum number and combinations of goods and services that can be produced from a fixed set of resources.

Absolute Advantage

A situation where a country, individual, or firm can produce more of a good or service with the same amount of resources compared to other entities.