According to auto insurance statistics, the average useful life for a car in the United States is
Question:
According to auto insurance statistics, the average useful life for a car in the United States is 10 years. Assume the distribution of useful life is uniform, with the following probability density function
where x = values for the random variable “useful car life in years”
a. What percentage of cars has a useful life of between 8.5 years and 9.5 years?
b. What percentage of cars has a useful life greater than 9 years?
c. 40% of cars have a useful life between 7 years and ____ years.
d. What is the standard deviation of the useful life distribution?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For 
Understanding Business Statistics
ISBN: 978-1118145258
1st edition
Authors: Stacey Jones, Tim Bergquist, Ned Freed
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