Problem 2. Let p > 0 be a real number. Consider function f which has values...

   

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Problem 2. Let p > 0 be a real number. Consider function f which has values f(t) = Ct-P for t≥ 1, and f(t) = 0 for t < 1. For which values of p we can select constant C so that this function f is a probability density function for some continuous random variable? For which values of p will this random variable have finite expectation? For which values of p will this random variable have finite variance? Problem 2. Let p > 0 be a real number. Consider function f which has values f(t) = Ct-P for t≥ 1, and f(t) = 0 for t < 1. For which values of p we can select constant C so that this function f is a probability density function for some continuous random variable? For which values of p will this random variable have finite expectation? For which values of p will this random variable have finite variance?

Answer rating: 100% (QA)

The function is given as ft cut b if I 21 if it 1 ... View the full answer