probability

EXAMPLE 6: Suppose that a certain type of small data processing firm is so specialized that some have difficulty making a profit in their first tear of operations. The probability density function that characterizes the proportion Y that makes a profit is given by f(y) = lo, ky? (1 - y)3, Osys1, elsewhere. a) What is the value of k that renders the above a valid density function? b) Find the probability that at most 72% of the firms make a profit in the first year. c) Find the probability that at least 72% of the firms make a profit in the first year