$f ( x ) = \left\{ \begin{array} { l l } \frac { 1 } { 6 } & \text { if } 2 \leq x \leq 8 \\0 & \text { otherwise }\end{array} \right.$

question 40

True/False

$f ( x ) = \left\{ \begin{array} { l l } \frac { 1 } { 6 } & \text { if } 2 \leq x \leq 8 \\0 & \text { otherwise }\end{array} \right.$ is a probability density function for a continuous random variable X. The expected value is 5.

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Definitions:

Market Share

The share of a market dominated by a specific company or product, typically represented as a percent of the overall sales within that market.

Cost of Production

The total expense incurred in manufacturing a product or providing a service, including raw materials, labor, and overhead costs.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Distribution

The process of taking goods from production to consumption.