In: Economics
The weekly output of a steel mill is a uniformly distributed random variable that lies between 110 and 175 metirc tons. 1. Compute the probability that the steel mill will produce more than 150 metric tons next week. 2. Determine the probability that the steel mill will produce between 120 and 160 metric tons next week.
*Answer:
Step-by-step solution
Step 1 of 2
It is given that the weekly output of a steel mill is a uniformly distributed random variable that lies between 110 and 175 metric tons.
The probability density function for the random variable is obtained below.
(a) We have to find the probability that the steel mill will produce more than 150 metric tons next week.
Therefore, the probability that the steel mill will produce more than 150 metric tons next week is 0.3846.
Comment
Step 2 of 2
(b) We have to find the probability that the steel mill will produce between 120 and 160 metric tons next week.
Therefore, the probability that the steel mill will produce between 120 and 160 metric tons next week is 0.6154.
**Please please like this answer so that I can get a small benifit. Please support me. Thankyou.***