Suppose that the value of a stock varies each day from $10.22 to $40.58 with a uniform distribution. Given that the stock is greater than $20, find the probability that the stock is more than $34. Give your answer accurate to four decimal places.

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.

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

Given that the stock is greater than $20

This means that we can use

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

We want P(X > 34).

0.3197 = 31.97% probability that the stock is more than $34.

step-by-step explanation:

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