A random variable Y has probability density function given by for y > 0. a. Demonstrate that
Question:
A random variable Y has probability density function given by
for y > 0.
a. Demonstrate that hY(y) is a valid probability density function.
b. Calculate P(1
c. Given that this distribution is actually Log-normal, that is lnY ∼ N(0, 1), use published statistical tables to verify your answer to part b.
You are given that Φ(1.39) = 0.91774 and Φ(0) = 0.5.
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a It is clear from the properties of exponential func...View the full answer
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Related Book For 
Introduction To Actuarial And Financial Mathematical Methods
ISBN: 9780128001561
1st Edition
Authors: Stephen Garrett
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