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3.33 Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of
3.33 Suppose a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The probabil- ity density function that characterizes the proportion Y that make a profit is given by fly ) = ky* (1 -y)3, 0Ky 6). (b) What is the probability that a major repair occurs in the rst year? 3.17 A continuous random variable X that can assume values between X = 1 and x = 3 has a density function given by f(x)=1/2. (a) Show that the area under the curve is equal to 1. (b) Find P(2
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