The Probability Density Function F(x) for a Uniform Random Variable

question 34

Short Answer

The probability density function f(x) for a uniform random variable X defined over the interval [1, 11] is: $\begin{array}{|l|l|}\hline\text { A. } & \text { any value between } 1 \text { and } 11 . \\\hline \text { B. } & 0.100 . \\\hline \text { C. } & 0.091 \\\hline \text { D. } & \text { above } 11 . \\\hline\end{array}$

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Definitions:

Random Variable

A variable whose values depend on outcomes of a probabilistic phenomenon, often used in statistics and probability theory.

Future Price

The predicted price of a commodity, security, or currency in a futures contract for delivery and payment at a specified future date.

General Motors

A multinational corporation based in the United States that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Moral Hazard

A situation where one party in an agreement can take risks because the other party bears the consequences of those risks.