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Suppose that buses arrive at a bus stop every 15 minutes and the waiting time for the next bus to arrive has a uniform probability distribution on the interval from 0 to 15 minutes

a) Find the probability that x, a person’s waiting time will exceed 10 minutes

b) Calculate the mean and standard deviation of x. Graph the probability density function of x and indicate the location of the mean and endpoints on the interval. Compute the probability of the interval on the mean plus minus one standard deviations and the mean plus minus two standard deviations

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91231971

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