# Question: If the annual proportion of new restaurants that fail in

If the annual proportion of new restaurants that fail in a given city may be looked upon as a random variable having a beta distribution with α = 1 and β = 4, find

(a) The mean of this distribution, that is, the annual proportion of new restaurants that can be expected to fail in the given city;

(b) The probability that at least 25 percent of all new restaurants will fail in the given city in any one year.

(a) The mean of this distribution, that is, the annual proportion of new restaurants that can be expected to fail in the given city;

(b) The probability that at least 25 percent of all new restaurants will fail in the given city in any one year.

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