Suppose the Time It Takes for Customer Representatives to Diagnose

question 2

Multiple Choice

Suppose the time it takes for customer representatives to diagnose and fix computer problems is uniformly distributed from 10 to 120 minutes.What is the probability that it takes longer than 90 minutes to diagnose and fix a computer problem?

• A)0.27
• B)0.73
• C)0.82
• D)0.50
• E)0.18

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Definitions:

Home Mortgages

Loans provided by financial institutions to individuals for the purchase of a home, secured by the property itself.

Coupon Rates

The interest rate paid by fixed-income securities, typically expressed as a percentage of the principal amount.

Expiration Time

The specific date and time when an option, futures contract, or similar financial instrument becomes void and ceases to trade.

Exercise Price

The price at which the holder of an option can buy or sell the underlying security.