A retailer of electronic equipment received six HDTVs from the manufacturer. Thr

Question

A retailer of electronic equipment received six HDTVs from the manufacturer. Three of the HDTVs were damaged in the shipment. The retailer sold two customers. a. Display the formula for the probability function. b. What is the probability that both customers received damaged HDTVs? c. What is the probability that one of the two customers received a defective HDTV? The price of a stock is uniformly distributed between $30 and $40. a. What is the probability that the stock price will be more than $37? b. What is the probability that the stock price will be less than or equal to $32? c. What is the probability that the stock price will be between $34 and $38? d. Determine the expected price of the stock. e. Determine the standard deviation for the stock price.

Explanation / Answer

4.

Uniformly distributed between $30 and $40

a. P( X>37) = 40-37 / 40-30 = .3
b. P(X<=32) = 40-32 / 40-30 = .2
c. P(34<X<38) = 38-34 / 40-30 = .4
d. Expected price of stock = (40+30)/2 = 35
e. Stdev of stocks = (40-30)^2 / 12 = 8.333

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