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A financial advising company has determined that the price-to-earnings ratios for 20 randomly selected publicly traded companies range between 0.8 and 2.8. Given that the

  1. A financial advising company has determined that the price-to-earnings ratios for 20 randomly selected publicly traded companies range between 0.8 and 2.8. Given that the price-to-earnings ratios are uniformly distributed, answer the following questions.

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