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 3 4 s 6 7 8 9 10 11 12 13 P(x) 0.03 0.07 0.07 0.12 0.18 0.15 0.19 0.10 0.05 0.03 0.01 (a) Find the expected number of years of patent life for a new drug. 9.55 (b) Find the standard deviation of x. (Round your answer to four decimal places.) (c) Find the probability that x falls into the interval u + 20. Need Help? Read it
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 3 4 s 6 7 8 9 10 11 12 13 P(x) 0.03 0.07 0.07 0.12 0.18 0.15 0.19 0.10 0.05 0.03 0.01 (a) Find the expected number of years of patent life for a new drug. 9.55 (b) Find the standard deviation of x. (Round your answer to four decimal places.) (c) Find the probability that x falls into the interval u + 20. Need Help? Read it
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 3 4 5 6 7 8 9 10
0.03 0.07 0.07 0.12 0.18 0.15 0.19 0.10 0.05 0.03 0.01
11
12
13
p(x)
(a) Find the expected number of years of patent life for a new drug.
9.55
(b) Find the standard deviation of x. (Round your answer to four decimal places.)
(c) Find the probability that x falls into the interval p + 20.
Need Help?
Read It](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6ef14032-3820-4650-9b75-4754bc51e90b%2Ffeea0f9f-eb9a-4eaf-87b2-e27b38128cd3%2Fk5na8qh_processed.png&w=3840&q=75)
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 3 4 5 6 7 8 9 10
0.03 0.07 0.07 0.12 0.18 0.15 0.19 0.10 0.05 0.03 0.01
11
12
13
p(x)
(a) Find the expected number of years of patent life for a new drug.
9.55
(b) Find the standard deviation of x. (Round your answer to four decimal places.)
(c) Find the probability that x falls into the interval p + 20.
Need Help?
Read It
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