Suppose a special type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. The pdf that characterizes the proportion Y that make a profit is given by(a) What is the value of k that renders the above a valid density function?(b) Find the probability that at most 50% of the firms make a profit in the first year.(c) Find the probability that at least 80% of the firms make a profit in the firstyear.

Transcribed Image Text:

rky*(1-y)*. 0sys 1, 10, f(x) = elsewhere.