Suppose that the completion time of a project as a proportion of the maximum allotted time is a beta random variable with a = 3 and B = 3. What is the probability that the completion of the project will require less than 80% of the maximum allotted time?
Suppose that the completion time of a project as a proportion of the maximum allotted time is a beta random variable with a = 3 and B = 3. What is the probability that the completion of the project will require less than 80% of the maximum allotted time?
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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![Suppose that the completion time of a project as a proportion of the maximum allotted time is a beta random variable with α = 3 and β = 3. What is the probability that the completion of the project will require less than 80% of the maximum allotted time?
In this context, the beta distribution is a continuous probability distribution defined on the interval [0, 1], characterized by two shape parameters, α (alpha) and β (beta). The question is asking for the cumulative probability of the beta distribution at 0.8, which represents 80% of the maximum allotted time. This involves evaluating the cumulative distribution function (CDF) of the beta distribution at the specified value.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F522630ab-9263-4897-b338-a0fdea344135%2Fc1ab959e-cf92-434b-9b7d-dd576099b2b3%2Fm6ev6h4_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that the completion time of a project as a proportion of the maximum allotted time is a beta random variable with α = 3 and β = 3. What is the probability that the completion of the project will require less than 80% of the maximum allotted time?
In this context, the beta distribution is a continuous probability distribution defined on the interval [0, 1], characterized by two shape parameters, α (alpha) and β (beta). The question is asking for the cumulative probability of the beta distribution at 0.8, which represents 80% of the maximum allotted time. This involves evaluating the cumulative distribution function (CDF) of the beta distribution at the specified value.
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