## Related questions with answers

Question

A dealer’s profit, in units of $5000, on a new automobile is given by$Y = X^2$, where X is a random variable having the density function$f(x) = 2(1 − x), 0 \lt x \lt 1$,$f(x)=0$, elsewhere.

(a) Find the probability density function of the random variable Y.

(b) Using the density function of Y, find the probability that the profit on the next new automobile sold by this dealership will be less than$500.

Solution

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