Mathematics: Suppose that the value of a stock varies each day from $10.22 to $40.58 with a uniform distribution. Given that the stock is greater than $20, find the probability that the stock is more than $34. Give your answer accurate to four decimal places.

Suppose that the value of a stock varies each day

bermudezs732

20.01.2022

0.3197 = 31.97% probability that the stock is more than $34.

Step-by-step explanation:

An uniform probability is a case of probability in which each outcome is equally as likely.

For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.

The probability that we find a value X lower than x is given by the following formula.

$P(X \leq x) = \frac{x - a}{b-a}$

For this problem, we have that:

Suppose that the value of a stock varies each day from $10.22 to $40.58 with a uniform distribution.

This means that a = 10.22, b = 40.58

Given that the stock is greater than $20

This means that we can use a = 20

Find the probability that the stock is more than $34.

Either the stock is 34 or less, or it is more than 34. The sum of the probabilities of these events is decimal 1. So

$P(X \leq 34) + P(X 34) = 1$

We want P(X > 34).

$P(X 34) = 1 - P(X \leq 34) = 1 - \frac{34 - 20}{40.58 - 20} = 0.3197$

0.3197 = 31.97% probability that the stock is more than $34.

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bm42400

28.01.2023

6. 11.3 Miles

7. 1.5 Miles

8. No he would need 26 Miles , he only has 25 Miles.

9. 11.25 Miles

10. Not really it slightly goes over by about .80

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