Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probabil- ity density funetion that characterizes the proportion Y that make a profit is given by S(y) = {ky'(1 - )", Osys1, (o, elsewhere. (a) What is the value of k that renders the abowe a valid density function? (b) Find the probability that at most 50% of the firms make a profit in the first year. (c) Find the probability that at least 80% of the firms make a profit in the first year.

Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probabil- ity density funetion that characterizes the proportion Y that make a profit is given by S(y) = {ky'(1 - )", Osys1, (o, elsewhere. (a) What is the value of k that renders the abowe a valid density function? (b) Find the probability that at most 50% of the firms make a profit in the first year. (c) Find the probability that at least 80% of the firms make a profit in the first year.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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