Respuesta :
Answer:
0.3197 = 31.97% probability that the stock is more than $34.
Step-by-step explanation:
An uniform probability is a case of probability in which each outcome is equally as likely.
For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.
The probability that we find a value X lower than x is given by the following formula.
[tex]P(X \leq x) = \frac{x - a}{b-a}[/tex]
For this problem, we have that:
Suppose that the value of a stock varies each day from $10.22 to $40.58 with a uniform distribution.
This means that [tex]a = 10.22, b = 40.58[/tex]
Given that the stock is greater than $20
This means that we can use [tex]a = 20[/tex]
Find the probability that the stock is more than $34.
Either the stock is 34 or less, or it is more than 34. The sum of the probabilities of these events is decimal 1. So
[tex]P(X \leq 34) + P(X > 34) = 1[/tex]
We want P(X > 34).
[tex]P(X > 34) = 1 - P(X \leq 34) = 1 - \frac{34 - 20}{40.58 - 20} = 0.3197[/tex]
0.3197 = 31.97% probability that the stock is more than $34.
