Find the mean and variance of c

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Reference no: EM131197035

During an 8-hour shift, the proportion of time X that a sheet-metal stamping machine is down for maintenance or repairs has a beta distribution with and β. That is,

The cost (in hundreds of dollars) of this downtime, due to lost production and cost of maintenance and repair, is given by
C = 10 + 20X + 4X ^₂.

a Find the mean and variance of C.

b Find an interval in which C will lie with probability at least 0.75.

Reference no: EM131197035

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