Question

QUESTION 1

Suppose the price of a vacant lot in Thousand Oaks follows a continuous uniform distribution between $100,000 and $150,000. Use this information to answer the following questions regarding the probability of the selling price. Calculate P(x<$135,000).

QUESTION 2

Calculate P(x>$120,000).

QUESTION 3

Calculate P($120,000<x<$130,000).

QUESTION 4

Calculate P(x=$125,000).

QUESTION 5

Calculate P(x<$100,000).  

QUESTION 6

Calculate E[x].

QUESTION 7

Calculate Var[x].

Remember to round all answers to the second decimal place.

Answer 1