**Uniform Distribution of Stock Values Educational Explanation**The problem in this exercise considers a stock price that varies each day from $12 to $23 with a uniform distribution. Let's explore the tasks and findings:### Tasks:1. **Probability the Stock is More than $14**: - Determine the probability that the stock's value exceeds $14. The answer should be rounded to four decimal places.2. **Probability the Stock is Between $14 and $19**: - Calculate the probability that the stock's value lies between $14 and $19. Again, round the result to four decimal places.3. **Find the Upper Quartile**: - Establish the stock value above which 25% of all recorded stock prices fall. Answer should be rounded to the nearest cent.### Graphs Explanation:The series of graphs provided is a visual representation of the continuous uniform probability distribution between the values $12 and $23. Each graph reflects a different probability calculation:- **Top Left Graph**: Represents the area where the stock value exceeds $14. The area from $14 to $23 is filled, indicating the region of interest for probability calculation.- **Top Right Graph**: Illustrates the segment where the stock value is between $14 and $19. The filled area corresponds to this specific interval.- **Bottom Left Graph**: Depicts the stock values from $12 to the upper quartile. Here, we search for the value above which 25% of the data lies.- **Bottom Right Graph**: Not specifically aligned with one problem but may represent combinations or alternative calculations for comparison/visual reference.In uniform distributions, the probability of any range is directly proportional to the length of that range since all outcomes are equally likely. Thus, the shaded areas on these graphs directly correspond to the probability computations required for each task. The image displays four bar graphs, each representing a probability distribution function $ f(X) $ over a range on the $ X $-axis from 12 to 24. The bar graphs illustrate different scenarios of stock prices with varying probability values:1. The first graph shows a shaded area from 18 to 24.2. The second graph shows a shaded area from 12 to 22.3. The third graph shows a shaded area from 14 to 22 but is worded differently.4. The fourth graph shows a shaded area from 16 to 24.Below these graphs, a question is presented:"(d) Given that the stock is greater than $13, find the probability that the stock is more than $18. (Round your answer to four decimal places.)"Additional materials are provided in the form of an "eBook" link for further reference or study.

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Description: **Uniform Distribution of Stock Values Educational Explanation**The problem in this exercise considers a stock price that varies each day from $12 to $23 with a uniform distribution. Let's explore the tasks and findings:### Tasks:1. **Probability th

Uniform Distribution : A random variable X is said to be following uniform distribution with…

Math

Statistics

Suppose that the value of a stock varies each day from $12 to $23 with a uniform distribution. (a) Find the probability that the value of the stock is more than $14. (Round your answer to four decimal places.) (b) Find the probability that the value of the stock is between $14 and $19. (Round your answer to four decimal places.) (c) Find the upper quartile; 25% of all days the stock is above what value? (Enter your answer to the nearest cent.) %24 Draw the graph.

Suppose that the value of a stock varies each day from $12 to $23 with a uniform distribution. (a) Find the probability that the value of the stock is more than $14. (Round your answer to four decimal places.) (b) Find the probability that the value of the stock is between $14 and $19. (Round your answer to four decimal places.) (c) Find the upper quartile; 25% of all days the stock is above what value? (Enter your answer to the nearest cent.) %24 Draw the graph.

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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