The cdf for X (= measurement error) of Exercise 3 is 0 x 1.5)

d. The median checkout duration [solve .5 = F()]

e. F'(x) to obtain the density function f(x)

f. E(X) g. V(X) and oy h. If the borrower is charged an amount h(x) = x when checkout duration is X, compute the expected charge E[h(X)].

a. Compute P(X < 0).

b. Compute P(-1 f(x) x>1 0 x 1

a. Determine the value of k for which f(x) is a legitimate pdf.

b. Obtain the cumulative distribution function.

c. Use the cdf from

(b) to determine the probability that headway exceeds 2 sec and also the probability that headway is between 2 and 3 sec..

d. Obtain the mean value of headway and the standard deviation of headway.

e. What is the probability that headway is within I standard deviation of the mean value?