an item initially valued at 100$ goes down in value by 20% the first year then goes up in value 10% the second year and goes dow
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Answer:
And we can use the cumulative distribution function given by:
And for this case we can write the probability like this:
And then the final answer for this case would be
Step-by-step explanation:
For this case we define our random variable X "price of gasoline for a city in the USA" and we know the distribution is given by:
And for this case the density function is given by:
And we want to calculate the following probability:
And we can use the cumulative distribution function given by:
And for this case we can write the probability like this:
And then the final answer for this case would be