In a store, the time (in years) when a product is sold is an independent random variable
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In a store, the time (in years) when a product is sold is an independent random variable having the following distribution:
\[ f(x)=\left\{\begin{array}{cc} 2 \sin ^{2}(2 \pi x), & 0 \leq x \leq 1 \\ 0, & \text { otherwise } \end{array}\right. \]
The price of the product, \(P(x)\), is time-dependent and is represented as follows:
\[ P(x)=\left\{\begin{array}{cc} 2-\sin ^{2}(2 \pi x), & 0 \leq x \leq 1 \\ 0, & \text { otherwise } \end{array}\right. \]
What is the expected revenue from the product?
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Related Book For
Project Management Systems Principles And Applications
ISBN: 272859
2nd Edition
Authors: Adedeji B. Badiru
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