You are forecasting sales for a company in the fourth quarter of its fiscal year. Your low-end estimate of sales is €14 million, and your high-end estimate is €15 million. You decide to treat all outcomes for sales between these two values as equally likely, using a continuous uniform distribution.
A. What is the expected value of sales for the fourth quarter?
B. What is the probability that fourth-quarter sales will be less than or equal to €14,125,000?