I submitted the answer and is wrong Please send me the wright answer 12:09 webwo
ID: 3348304 • Letter: I
Question
I submitted the answer and is wrong Please send me the wright answer 12:09 webwork.lakeheadu.ca No SIM HW2: Problem 13 Previous Problem Problem List Next Problem Results for this submission Entered Answer Preview Result 4 0.8 incorrect The answer above is NOT correct. (1 point) Suppose the time to process a loan application follows a uniform distribution over the range 5 to 14 days. What is the probability that a randomly selected loan application takes longer than 6 days to process? answer: 4/5 Preview My Answers Submit Answers Your score was recorded. You have attempted this problem 1 time. You received a score of 0% for this attempt.Explanation / Answer
Solution:
Let Y be the time to process a loan. We are given that Y follows a (I am assuming to be CONTINUOUS) unifrom distribution over the interval of 5 to 14 days. The probability density curve here is a straight line (uniform distribution). The area under any probability density has to be 1 (100%). Here, iImagine a rectangle of base 14-5 = 9. If the area of the rectangle has to be one, what should be its height? Think. The height should be 1/ 9 right? Right.
The required probability, P[Y>6] is just the area under the curve to the right of 8. The portion of the base to the right of 8 is 14-8 = 6. The area of this portion is 6(1/9) = 6/9=2/3.
if you regard your time to process the loan, as NUMBER of days, the variable is discrete, taking values, 5, 6, 10,..., 14. These are (COUNT.......) TEN values. Now we have a discrete probability MASS FUNCTION, (not a curve, but "sticks"), each of height 1/10 at each value to make the total mass10(1/10) = 1. You need P{Y> 6] (Note: longer than 6 days means 7 or more days, See the difference between a discrete and a continuous variable.)
These are (count, 7,8,9., 10, ...14) EIGHT values. So the answer now is 8(1/10) = 8/10=4/5. NOT 2/3.
This difference is based on your assumption (whether the distribution is continuous uniform or discrete uniform)