The Average Life for a Particular Brand of Car Battery

question 122

Multiple Choice

The average life for a particular brand of car battery is given by the following probability density function where t is in years. ​Find the probability that a battery chosen at random lasts between 2 and 7 years. Round your answer to two decimal places. ​

• A)1.72
• B)0.43
• C)0.54
• D)0.34
• E)0.65

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Definitions:

Natural Business Year

The fiscal year that ends when a business's activities have reached the lowest point in its annual operating cycle, theoretically the most optimal time for financial reporting.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years.

Contra Account

An account used in accounting to offset or reduce the balance of a related principal account.

Prepaid Expenses

Costs paid in advance for goods or services to be received in the future, which are recorded as assets until they are consumed.