Ex 8.1.2

1. The price of a stock is uniformly distributed between 30 and 40.

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(a) What is the probability that the stock price will be more than 37?

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(b) What is the probability that the stock price will be less than or equal to 32?

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(c) What is the probability that the stock price will be between 34 and 38?

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(d) Determine the expected price of the stock.

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(e) Determine the standard deviation for the stock price. (to 2 digits)

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2. A random variable X is uniformly distributed between 45 and 150.

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(a) Determine the probability of X=48.

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(b) What is the probability of X60? (to 4 digits)

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(c) What is the probability of X50? (to 4 digits)

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(d) Determine the standard deviation of X. (to 2 digits)

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3. The length of time patients must wait to see a doctor in a local clinic is

uniformly distributed between 15 minutes and 2.5 hours.

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(a) What is the probability of a patient waiting exactly 50 minutes?

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(b) What is the probability that a patient would have to wait

between 45 minutes and 2 hours? (to 3 digits)

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(c) Compute the probability that a patient would have to wait over 2 hours?

(to 3 digits)

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(d) Determine the expected waiting time.

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