Suppose that the time, in hours, taken to repair a heat pump is a random variable X having a gamma distribution with parameters 2 and 3 1 2 What is the probability that the next service call will require (a) At most 1 hour to repair the heat pump (b) At least 2 hours to repair the heat pump ...

Suppose that the time, in hours, taken to repair a heat pump is a random variable X

Question:

Suppose that the time, in hours, taken to repair a heat pump is a random variable X having a gamma distribution with parameters α = 2 and 3 = 1/2. What is the probability that the next service call will require

(a) At most 1 hour to repair the heat pump?

(b) At least 2 hours to repair the heat pump?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...