(Answered) 1 the time it takes to fix an equipment failure is

Economics

1) The time it takes to fix an equipment failure is uniformly distributed between 3 and 7.5 hours. What is the probability that a failure takes less than 4.5 hours to fix?

2) Historical analysis estimates that the severity/cost of any given operational loss is distributed normal with mean $50,000 and standard deviation $4,000 (loss~N[50000,4000]). What is the probability that a given loss severity will be between $45,000 and $48,000

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Business Economics, Economics

Category:- Business Economics
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