Find the cumulative distribution function of x

Reference no: EM131369898

An article in The New York Times reports that several hedge fund managers now make more than a billion dollars a year.2 Suppose that the annual income of a hedge fund manager in the top tier, in millions of dollars a year, is given by the following probability distribution:

X($ millions)	P(x)
$1,700	0.2
1,500	0.2
1,200	0.3
1,000	0.1
800	0.1
600	0.05
400	0.05

a. Find the probability that the annual income of a hedge fund manager will be between $400 million and $1 billion (both inclusive).

b. Find the cumulative distribution function of X.

c. Use F(x) computed in (b) to evaluate the probability that the annual income of a hedge fund manager will be less than or equal to $1 billion.

d. Find the probability that the annual income of a hedge fund manager will be greater than $600 million and less than or equal to $1.5 billion.

Reference no: EM131369898

Questions Cloud

Information relevant for your career and other careers : Where else can you get information relevant for your career and other careers? Are there magazines or websites that you've used?

Use standard rules of rounding to achieve a whole number : Massoud Furniture purchases a special wood used to manufacture kitchenette sets directly from the supplier. Massound kitchenette production, which is operated at a constant rate, will require 1750 logs of wood per month throughout the year (21,000 un..

Minimize the level of accounts receivable : What can be done to minimize the level of accounts receivable without adjusting the terms of sale or using methods that might reduce sales?

Boundaries for the innovate phase workshops : What happens if the Executive workshop does not produce or agree on the “rules of the Innovate phase game”? That is, you have no constraints or guidance on the boundaries for the Innovate phase workshops. How should this be handled? Is it necessary t..

Find the cumulative distribution function of x : Find the probability that the annual income of a hedge fund manager will be greater than $600 million and less than or equal to $1.5 billion.

Reflect on how you are revising your research process : Reflect on how you are revising your research process. If you've done research before, what are you doing differently now? What's new for you about academic research? What's already familiar? What questions do you have?

Explain two different human services organizations : Policy advocacy is one of the key roles of human services professionals. It differs from advocating for clients in that it looks to inform those who are responsible for policy formation, such as politicians and leaders of large-scale organizations..

Influential emerging technology for business : What do you predict will be the most influential emerging technology for business over the next five years? Why do you think this?

Create an erd to represent the data requirements of business : Create an Entity Relationship Diagram (ERD) to represent the data requirements of the business. Use Microsoft Word or Visio to create this ERD.

User Account

All Pages