An alternative to buy and an alternative to lease hydraulic lifting equipment have been formulated. Use the parameter estimates and assumed distribution data shown to plot the probability distributions on one graph for each corresponding parameter.
Label the parameterscarefully.

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Purchase Alternative Estimated Value High Assumed Distribution Parameter First cost,S Salvage value, S Life, years AOC, $ per year Low 25,000 20,000 Uniform continuous 3,000 2,000 Triangular mode at $2500 Triangular mode at 6 9,000 5,000 Uniform: continuous Lease Alternative Estimated Value Low 2000 1800 Assumed Distribution High Parameter Lease first cost, S AOC, $ per year Lease term, years Uniform continuous 9000 5000 Triangular; mode at $7000 3 3 Certainty