SOC 885 Study Guide - Final Guide: Beta Distribution

• School: Ryerson University
• Department: Sociology
• Course: SOC 885
• Professor: Abednego Aryee

Document Summary

Find an interval for which the probability that c will lie within it is at least. During an eight-hour shift, the proportion of time y that a sheet-metal stamping machine is down for maintenance or repairs has a beta distribution with = 1 and = 2. The cost (in hundreds of dollars) of this downtime, due to lost production and cost of maintenance and repair, is given by c = 10 + 20y + 4y 2. The density function of random variable y is, The cost (in hundreds of dollars) of this downtime, due to lost production and cost of maintenance or repairs, To find the interval that c will lie within it, is at least 0. 75. Comparing (i) an (ii) on the right hand sides we have. So the interval for which the probability of c lying within it for at least 0. 75 is.