A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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### Problem 2: Gas Station Daily Sales

Consider a gas station’s daily sales. Let \( Y \) be the volume of gas sold per day in **1000s of gallons**. Assume the distribution of \( Y \) follows this probability density function (pdf):

\[
f(y) = 
\begin{cases} 
k \left( y - \frac{1}{y^3} \right) & \text{for } 1 \leq y \leq 2 \\ 
0 & \text{elsewhere}
\end{cases}
\]

#### Questions:

a. **What value of \( k \) is required for the above function to be a valid pdf?**

b. **Verify that the function given is a valid probability density function.**

c. **Determine the cumulative distribution function (cdf) of the random variable.**

d. **Compute the probability that there is exactly 1500 gallons of sales on a given day.**  
(Hint: Find \( P(Y = 1.5) \))
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Transcribed Image Text:### Problem 2: Gas Station Daily Sales Consider a gas station’s daily sales. Let \( Y \) be the volume of gas sold per day in **1000s of gallons**. Assume the distribution of \( Y \) follows this probability density function (pdf): \[ f(y) = \begin{cases} k \left( y - \frac{1}{y^3} \right) & \text{for } 1 \leq y \leq 2 \\ 0 & \text{elsewhere} \end{cases} \] #### Questions: a. **What value of \( k \) is required for the above function to be a valid pdf?** b. **Verify that the function given is a valid probability density function.** c. **Determine the cumulative distribution function (cdf) of the random variable.** d. **Compute the probability that there is exactly 1500 gallons of sales on a given day.** (Hint: Find \( P(Y = 1.5) \))
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