Suppose a special type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probability density function that characterizes the proportion Y that make a profit is given by ky² ( 1 – y)³ 0

Suppose that the interval between eruptions of a particular geyser can be modelled by an exponential distribution with an unknown parameter 0 > 0. The probability density function of this distribution is given by f(x; 0) = 0e 0¹, x > 0. The four most recent intervals between eruptions (in minutes) are x₁ = 32, x₂ = 10, x3 = 28, x4 = 60; their values are to be treated as a random sample from the exponential distribution. (a) Show that the likelihood of based on these data is given by L(0) 04-1306 = (b) Show that L'(0) is of the form L'(0) = 0³ e 1300 (4- 1300). (c) Show that the maximum likelihood estimate of 0 based on the data is ~ 0.0308 making your argument clear. (d) Explain in detail how the maximum likelihood estimate of that you have just obtained in part (c) relates to the maximum likelihood estimator of for an exponential distribution.

A company uses wood chips in the manufacture of processed wood pieces of various sizes. Suppose the tons of wood chips T used per day has a probability density function f(T) = 0.25e-0.25T (a) Find the probability of using more than 4 tons of wood chips in a day. (Round your answer to three decimal places.) (b) Find the number of tons 7 (to the nearest ton) so that the probability of using more than 7 tons in a day is 0.07. tons

For a laboratory assignment, if the equipment is working, the density function of the observed outcome X is f(x) = 2x(1-x), 0 < x < 1 Find the variance and standard deviation of X