3.33 Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probabil- ity density function that characterizes the proportion Y that make a profit is given by f(y)= (ky² (1-y)³, 0 ≤ y ≤1, elsewhere. (a) What is the value of k that renders the above a valid density function? (b) Find the probability that at most 31% of the firms make a profit in the first year. (c) Find the probability that at least 74% of the firms make a profit in the first year.
3.33 Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probabil- ity density function that characterizes the proportion Y that make a profit is given by f(y)= (ky² (1-y)³, 0 ≤ y ≤1, elsewhere. (a) What is the value of k that renders the above a valid density function? (b) Find the probability that at most 31% of the firms make a profit in the first year. (c) Find the probability that at least 74% of the firms make a profit in the first year.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.CR: Chapter 2 Review
Problem 111CR: Respiratory Rate Researchers have found that the 95 th percentile the value at which 95% of the data...
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