Random Variable X Has a Uniform Distribution Defined by the Probability

question 90

Multiple Choice

Random variable x has a uniform distribution defined by the probability density function below.Determine the probability that x has a value of at least 220. 1/100 for values of x between 200 and 300
F(x) =
0 everywhere else

• A).65
• B).80
• C).75
• D).60
• E).85

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Definitions:

Maximum Daily Profit

The highest possible profit a business can achieve in a single day based on its operational and financial constraints.

Market Price

The present cost at which a product or service is available for purchase or sale in a specific marketplace.

Firm

An organization engaged in commercial, industrial, or professional activities, either for-profit or not-for-profit.

Profit-Maximizing Level

The point at which a business achieves the highest profit, with costs minimized and revenue maximized.