THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 101

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A continuous random variable X has the probability density function: f(x)= 2e^-2x,x ≥ 0.
-What is the probability that x is at most 2?

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Definitions:

Fiduciary Duty

The legal obligation of one party to act in the best interest of another when entrusted with care of money or property.

Utmost Good Faith

A legal doctrine requiring all parties to a contract, especially in insurance, to act honestly and disclose all relevant facts.

Business's Reputation

A business's reputation is the public perception or regard for a company, significantly influencing its success by affecting customer trust and loyalty.

Agency-by-Necessity

A situation in which one party (the agent) is empowered to act for another party (the principal) under emergency circumstances, without prior authorization.