If the wait time is less than 10 minutes you pay 2 if it

Reference no: EM13605542

The wait time (minutes) you experience waiting for a bus is modeled by T=10X-10, X is randon variable have prob. density function f(x)=x^-2, x>=1...f(x)=0 for x<1 ... so X>=1

a) What is the cumulative distribution function of X?

b) What is the probability you have to wait more than 10 minutes?

c) If the wait time is less than 10 minutes, you pay $2. if it is more than 10 minutes, you use alternate transportation for $10. draw the probability mass function and cumulative distribution of the cost.

d) What is the expected cost of the trip and the variance of the cost?

Reference no: EM13605542

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