Estimating the expected value for given distribution

Reference no: EM1312817

A bid has been submitted for the cost of development of a support system. The actual cost, x, in $100,000, is predicted by the probability density function

a) What is the expected cost to develop the support system?

b) What is the cost Xs to develop the support system for which the probability of exceeding Xs is 0.01?

Reference no: EM1312817

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