In this module the student will explore the properties of data with a uniform distribution. The original module of practice problems for the Uniform distribution in Collaborative Statistics by Dr. Barbara Illowsky and Susan Dean has been modified by removing the problems involving conditional probability.
Student learning outcomes
The student will explore the properties of data with a uniform distribution.
Given
The age of cars in the staff parking lot of a suburban college is uniformly distributed from six months (0.5 years) to 9.5 years.
Describe the data
What is being measured here?
The age of cars in the staff parking lot
In words, define the Random Variable
.
= The age (in years) of cars in the staff parking lot
Are the data discrete or continuous?
Continuous
The interval of values for
is:
0.5 - 9.5
The distribution for
is:
~
Probability distribution
Write the probability density function.
Graph the probability distribution.
A
Sketch the graph of the probability distribution.
B
Identify the following values:
I
Lowest value for
:
Ii
Highest value for
:
Iii
Height of the rectangle:
Iv
Label for x-axis (words):
V
Label for y-axis (words):
B.i
0.5
B.ii
9.5
B.iii
Age of Cars
B.iv
B.v
Random probability
Find the probability that a randomly chosen car in the lot was less than 4 years old.
A
Sketch the graph. Shade the area of interest.
B
Find the probability.
=
B.
Quartiles
Find the average age of the cars in the lot.
= 5
Find the third quartile of ages of cars in the lot. This means you will have to find the value such that
, or 75%, of the cars are at most (less than or equal to) that age.
A
Sketch the graph. Shade the area of interest.
B
Find the value
such that
.
C
The third quartile is:
B
= 7.25
Questions & Answers
differentiate between demand and supply
giving examples
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
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Source:
OpenStax, Collaborative statistics: custom version modified by r. bloom. OpenStax CNX. Nov 15, 2010 Download for free at http://legacy.cnx.org/content/col10617/1.4
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