Question 1194788
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The total time to process a loan application is uniformly distributed between 9 and 15 days. 
What is the probability that a loan will be processed in 12 days or less?
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<pre>
To answer the question, first calculate the duration of the time interval [9,12] days : 
    
    it is 12-9 = 3 days.


Next calculate the duration of the base time interval [9,15] days :

    it is 15-9 = 6 days.


Last step is to compute the ratio of the shorter time interval to the base time interval

    P = {{{3/6}}} = {{{1/2}}} = 0.5 = 50%.    <U>ANSWER</U>
</pre>

Solved.


It is how the uniform probability distribution works.