If the Random Variable X Has a Uniform Distribution Between $\le$

question 147

Multiple Choice

If the random variable X has a uniform distribution between 40 and 50,then P(35 $\le$ X $\le$ 45) is:

• A) 1.0
• B) 0.5
• C) 0.1
• D) undefined.

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Definitions:

Market Price

The price of a commodity when sold in a competitive marketplace, reflecting the supply and demand balance.

Units

Basic measures or quantities of a product, service, or variable used in economic analysis or transactions.

Average Fixed Cost

The average fixed cost is the total fixed expenses of a business divided by the number of units produced, showing how much fixed costs contribute to each unit of production.

Average Variable Cost

The variable cost per unit of output, determined by dividing the total variable costs by the number of units of output.