SOLUTION: The total time to process a loan application is uniformly distributed between 9 and 15 days. Let X denote the time to process a loan application. Give the mathematical expression f
Algebra ->
Finance
-> SOLUTION: The total time to process a loan application is uniformly distributed between 9 and 15 days. Let X denote the time to process a loan application. Give the mathematical expression f
Log On
Question 1194786: The total time to process a loan application is uniformly distributed between 9 and 15 days. Let X denote the time to process a loan application. Give the mathematical expression for the probability function. Found 2 solutions by greenestamps, ikleyn:Answer by greenestamps(13200) (Show Source):
It's not clear what you are asking for here; perhaps you are using the wrong vocabulary.
A probability function P(x) gives the probability that a certain outcome is obtained. For a uniform distribution of a continuous variable, the probability of any exact value in the specified range is zero, so asking for the probability function for a variable with uniform distribution of values between 9 and 15 doesn't make sense.
Re-post, asking the question you really mean to be asking.
You can put this solution on YOUR website! .
The total time to process a loan application is uniformly distributed between 9 and 15 days.
Let X denote the time to process a loan application. Give the mathematical expression for the probability function.
~~~~~~~~~~~~~~~~~
In such problems, the probability is usually considered in one of three forms:
(a) P(X < b),
or
(b) P(a < X),
or
(c) P(a < X < b),
where "a" and "b" are real numbers, usually 9 =< a < b <= 15.
In case (a), P(X < b) = = ;
In case (b), P(a < X) = = ;
In case (c), P(a < X < b) = = .