Number of Horses ​

question 68

Short Answer

Number of Horses ​
The random variable X represents the number of horses per family in a rural area in Iowa,with the probability distribution: p(x)= 0.05x,x = 2,3,4,5,or 6. ​ ​
-{Number of Horses Narrative} Find the following probabilities:
a.P(X ≥ 4)
b.P(X > 4)
c.P(3 ≤ X ≤ 5)
d.P(2 < X < 4)
e.P(X = 4.5)

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Definitions:

Retirement Funds

Financial assets set aside to support individuals financially when they cease working, typically in the form of pensions or savings plans.

Compounded Monthly

Interest computation method where interest gains are calculated on a monthly basis, with each month's interest added to the principal for future calculations.

Prize

A reward given for victory or superiority in a contest or competition.

Payments

The transfer of money or goods from one person or entity to another, often in exchange for services or products.