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Compute probability that the lead time exceeds three weeks

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Reference no: EM131615171

Question: 1. Show that the beta distribution becomes the uniform distribution over the unit interval when ß1 = ß2 = 1.

2. Lead time of a product in weeks is gamma-distributed with shape parameter 2 and scale parameter 1. What is the probability that the lead time exceeds 3 weeks?

Reference no: EM131615171

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