In a Uniform Distribution, with a Minimum, A, and Maximum

question 37

Short Answer

In a uniform distribution, with a minimum, a, and maximum, b, the probability that the random variable, x, is between a and (b - a)/2 is ___________.

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Definitions:

Marginal Cost

is the increase in total cost that arises from producing one additional unit of a product or service.

Total Fixed Cost

The total fixed cost refers to the sum of all costs that do not change with the level of output produced by a company or during a specific period.

Maximum Profit

The highest possible financial gain a firm can achieve when the difference between total revenue and total cost is at its greatest.