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2. Suppose annual benefits for a particular item are distributed uniformly between 200 and 250. a. What's the expected value for the item's annual benefits? o. Suppose an item chosen at random gets annual benefits of $231. What percentile is this in? c. What's the likelihood of the item being profitable if its cost is $1475, its salvage value is $10 ts life is 7 years, and interest is 5%?

2. Suppose annual benefits for a particular item are distributed uniformly between 200 and 250. a. What's the expected value for the item's annual benefits? o. Suppose an item chosen at random gets annual benefits of $231. What percentile is this in? c. What's the likelihood of the item being profitable if its cost is $1475, its salvage value is $10 ts life is 7 years, and interest is 5%?

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 61CR
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2. Suppose annual benefits for a particular item are distributed uniformly between 200 and 250. a. What's the expected value for the item's annual benefits? b. Suppose an item chosen at random gets annual benefits of $231. What percentile is this in? c. What's the likelihood of the item being profitable if its cost is $1475, its salvage value is $100, its life is 7 years, and interest is 5%?
Transcribed Image Text:2. Suppose annual benefits for a particular item are distributed uniformly between 200 and 250. a. What's the expected value for the item's annual benefits? b. Suppose an item chosen at random gets annual benefits of $231. What percentile is this in? c. What's the likelihood of the item being profitable if its cost is $1475, its salvage value is $100, its life is 7 years, and interest is 5%?
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