If the interest earned is $25 and the principal is $500 and the interest rate is 5%, what is the time?
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Answer:
E[T] = 10
Step-by-step explanation:
A distribution is called uniform if each outcome has the same probability of happening.
The uniform distribution has two bounds, a and b, and the expected value of the uniform distribution is given by:
Uniformly distributed between 0 and 20 minutes.
This means that
Let T be the number of minutes you wait until you board a bus. Find E[T].
This is
E[T] = 10