50. A corporation’s annual profits and losses for a six-year period are shown in the graph in Figure 13–30. Figure 13–30 a. What is the increase or decrease in profits for the years listed? (1) the 1st to the 2nd year (2) the 2nd to the 4th year (3) the 3rd to the 5th year (4) the 4th to the 6th year b. What is the total dollar amount lost by the corporation from the 3rd through the 5th year? c. What is the net profit or loss for the 6-year period? d. What is the average annual profit or loss for the 6-year period?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
150. A corporation’s annual profits and losses for a six-year period are shown in the graph in
Figure 13–30.
Figure 13–30
a. What is the increase or decrease in profits for the years listed?
(1) the 1st to the 2nd year
(2) the 2nd to the 4th year
(3) the 3rd to the 5th year
(4) the 4th to the 6th year
b. What is the total dollar amount lost by the corporation from the 3rd through the 5th year?
c. What is the net profit or loss for the 6-year period?
d. What is the average annual profit or loss for the 6-year period?
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