document.write( "Question 1192725: Suppose the time to process a loan application follows a uniform distribution over the range 8 to 17 days. What is the probability that a randomly selected loan application takes longer than 13 days to process? \n" ); document.write( "

Algebra.Com's Answer #824629 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "Suppose the time to process a loan application follows a uniform distribution
\n" ); document.write( "over the range 8 to 17 days. What is the probability that a randomly selected
\n" ); document.write( "loan application takes longer than 13 days to process?
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document.write( "The base interval for comparison is from 8-th day to 17-th day, inclusive, i.e.  17-7 = 10 days.\r\n" );
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document.write( "Working interval is from 14-th to 17-th day, or 17-13 = 4 days.\r\n" );
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document.write( "The probability under the question is the ratio of working interval to the base interval\r\n" );
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document.write( "    P =  =  = 0.4 = 40%.     ANSWER\r\n" );
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