The shelf life of a product is a random variable that is related to consumer acceptance. It turns out that the shelf life Y in days of a certain type of bakery product has the density function shown to the right. What fraction of the loaves of this product stocked today would you expect to be sellable 2 days from now? 2 3Y. Osy<∞ f(y) = e 3 0, elsewhere The fraction of loaves stocked today that would be sellable 2 days from now is (Round to four decimal places as needed.)
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
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