Marketing estimates that a new instrument for the analysis of soil samples will be very successful, maderately successful, or unsuccessful, with probabilities 0.32,0.54, and0.14, respectively. The yearly revenue associated with a very successful, moderately successful, or unsuccessful product is $10 million dollars, $5 million dollars, and $1 million dollars, respectively. Let the random variable X denote the yearly revenue of the product in nillions of dollars. Evaluate the curnulative distribution function of X at specified values.
Marketing estimates that a new instrument for the analysis of soil samples will be very successful, maderately successful, or unsuccessful, with probabilities 0.32,0.54, and0.14, respectively. The yearly revenue associated with a very successful, moderately successful, or unsuccessful product is $10 million dollars, $5 million dollars, and $1 million dollars, respectively. Let the random variable X denote the yearly revenue of the product in nillions of dollars. Evaluate the curnulative distribution function of X at specified values.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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