Answer:
maximum revenue is 25000
Step-by-step explanation:
The revenue function for a bicycle shop is given by R(x)=x⋅p(x)
Given
Plug in p(x) in R(x)
Now find out the vertex using formula x=-b/2a
a= -0.4, b=200
Plug in 250 for x in R(x)
So maximum revenue is 25000
Answer:
a)
b)
Step-by-step explanation:
Previous concepts
The exponential distribution is "the probability distribution of the time between events in a Poisson process (a process in which events occur continuously and independently at a constant average rate). It is a particular case of the gamma distribution". The probability density function is given by:
And 0 for other case. Let X the random variable that represent "life lengths of automobile tires of a certain brand" and we know that the distribution is given by:
The cumulative distribution function is given by:
Part a
We want to find this probability:
and for this case we can use the cumulative distribution function to find it like this:
Part b
For this case w want to find this probability
We have an important property on the exponential distribution called "Memoryless" property and says this:
On this case if we use this property we have this:
We can use the definition of the density function and find this probability: