The feasible region is shown in the picture above. The horizontal axis is the X axis.
If you now draw a family of lines parallel to through the region, increasing $C$, that is, the X-intercept, we will have the maximum value of $C$ when the line passes through the endpoint $(-2,6)$ .
Hence, $C=5(-2)+4(6)=14$
Answer:
The probability that the final settlement amount is between 1 and 3 given that the initial claim is 2 = (2/9) = 0.2222
Step-by-step explanation:
The complete question is presented in the attached image to this solution
The joint probability distribution is given as
f(x, y) = {2/[x²(x - 1)} × y^-[(2x-1)/(x-1)] for x>1 And y>1
Given that the initial claim estiamted by the comapny is 2, determine the probability that the final settlement amount is between 1 and 3.
That is, x = 2, and y ranges from 1 to 3
Inserting x = 2 into the expression, we obtain
f(y) = (1/2) × y⁻³ = (y⁻³/2)
The required probability would then be
P(1 < y ≤ 3) = ∫³₁ f(y) dy
= ∫³₁ (y⁻³/2) dy
= [y⁻²/-4]³₁
= [3⁻²/-4] - [1⁻²/-4]
= (-1/36) - (-1/4)
= (1/4) - (1/36)
= (8/36)
= (2/9) = 0.2222
Hope this Helps!!!
Answer:
The z-score associated with the upper boundary of of this price range is -0.25.
Step-by-step explanation:
It is provided that the board of directors for Cosmic Coffee wants to know the price range for the lowest 40% of drink sales.
If <em>X</em> represents the price range of drink sales, then
P (X < x) = 0.40
Consider that <em>X</em> follows a Normal distribution.
To compute the probability of a normally distributed random variable we need to first convert the raw score to the <em>z</em>-scores.
The formula to <em>z</em>-score is:
Then,
P (X < x) = 0.40
⇒ P (Z < z) = 0.40
The value of <em>z</em> for this probability is:
<em>z</em> = -0.25
*Use a <em>z</em>-table.
Thus, the z-score associated with the upper boundary of of this price range is -0.25.
