Find the expected value and variance of v

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Reference no: EM131197053

The percentage of impurities per batch in a certain type of industrial chemical is a random variable X having the probability density function

a Suppose a batch with more than 40% impurities cannot be sold. What is the probability that a randomly selected batch will not be sold?

b Suppose the dollar value of each batch is given by
V = 5 - 0.5X,

Find the expected value and variance of V.

Reference no: EM131197053

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