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Unformatted text preview: X takes on certain values, we use a probability density function , f ( x ) , satisfying the following conditions: 1. f ( x ) ≥ 0 for all real x . 2. The area under the graph of f ( x ) over (-∞ , ∞ ) is exactly 1. 3. If [ c , d ] is a subset of (-∞ , ∞ ) , then P ( c ≤ X ≤ d ) = Example 2: A manufacturer guarantees a product for one year. The time to failure of a product after it is sold is given by the probability density function f ( t ) = ( . 01 e-. 01 t if t ≥ otherwise where t is in months. What is the probability that a buyer chosen at random will have a product failure: a) During the warranty period? b) During the second year after purchase? Section 7.2 Homework Problems: 13,17,19,43,47,51,57, and supplemental problems 4-7. 6...
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- Fall '08
- probability density function, one year, equilibrium price level, Kendra Kilmer