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0.01 0.07 0.07 0.12 0.18 0.19 0.17 0.10 0.05 0.03 0.01 ted number of years of patent life for a new drug. ] ard deviation of x. (Round your answer to four decimal places.) ] bility that x falls into the interval μ ± 20. ]

0.01 0.07 0.07 0.12 0.18 0.19 0.17 0.10 0.05 0.03 0.01 ted number of years of patent life for a new drug. ] ard deviation of x. (Round your answer to four decimal places.) ] bility that x falls into the interval μ ± 20. ]

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The maximum patent life for a new drug is 17 years. Subtracting the length of time required by the FDA for testing and approval of the drug provides the actual patent life of the drug-that is, the length of time that a company has to recover research and development costs and make a profit. Suppose the distribution of the lengths of patent life for new drugs is as shown here. Years, x p(x) (a) Find the expected number of years of patent life for a new drug. 3 4 5 6 7 8 10 0.01 0.07 0.07 0.12 0.18 0.19 0.17 0.10 0.05 0.03 0.01 9 11 (c) Find the probability that x falls into the interval μ ± 20. 12 13 (b) Find the standard deviation of x. (Round your answer to four decimal places.)
Transcribed Image Text:The maximum patent life for a new drug is 17 years. Subtracting the length of time required by the FDA for testing and approval of the drug provides the actual patent life of the drug-that is, the length of time that a company has to recover research and development costs and make a profit. Suppose the distribution of the lengths of patent life for new drugs is as shown here. Years, x p(x) (a) Find the expected number of years of patent life for a new drug. 3 4 5 6 7 8 10 0.01 0.07 0.07 0.12 0.18 0.19 0.17 0.10 0.05 0.03 0.01 9 11 (c) Find the probability that x falls into the interval μ ± 20. 12 13 (b) Find the standard deviation of x. (Round your answer to four decimal places.)
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