Consider a Random Variable,X,with Uniform Density Over the Range 0

question 212

Multiple Choice

Consider a random variable,X,with Uniform density over the range 0 to 1. Given that X is at least 0.4,find the probability that X is less than 0.6.

• A)0.33
• B)0.60
• C)0.40
• D)0.67
• E)0.00

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Definitions:

Sale Price

The final price at which an item or service is sold, after any discounts or adjustments are applied.

Operating Expenses

Costs associated with a business’s operations, including rent, utilities, payroll, and materials, but excluding the cost of goods sold.

Discounted Price

The reduced price of a good or service, typically offered for promotions or sales.

Retail Selling Price

The final price at which goods are sold to consumers, including all taxes, markups, and additional costs.