The Random Variable X Is Known to Be Uniformly Distributed

question 34

Multiple Choice

The random variable x is known to be uniformly distributed between 70 and 90. The probability of x having a value between 80 to 95 is

• A)0.75
• B)0.5
• C)0.05
• D)1

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Definitions:

Weekly Revenue

The total amount of money earned by a business over the course of a week from its operations.

Volume Maximization

A strategy aimed at maximizing the quantity of products sold or produced, often regardless of profit margins.

Penetration Pricing

A marketing strategy where a product is priced lower than its competitors or the market average to attract customers and gain market share rapidly.

Price Sensitive

Being affected by changes in the price of goods or services, often referring to consumers whose buying decisions are heavily influenced by price changes.