Suppose that the time, in hours, required to repair a heat pump is a random variable X having a gamma distribution with parameters a = 2 and ß =. What is the probability that on the next service call (a) at most 3 hours will be required to repair the heat pump? (b) at least 4 hours will be required to repair the heat pump?
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When it comes to the concept of polynomial equations, quadratic equations can be said to be a special case. What does solving a quadratic equation mean? We will understand the quadratics and their types once we are familiar with the polynomial equations and their types.
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The concept of demand and supply is important for various factors. One of them is studying and evaluating the condition of an economy within a given period of time. The analysis or evaluation of the demand side factors are important for the suppliers to understand the consumer behavior. The evaluation of supply side factors is important for the consumers in order to understand that what kind of combination of goods or what kind of goods and services he or she should consume in order to maximize his utility and minimize the cost. Therefore, in microeconomics both of these concepts are extremely important in order to have an idea that what exactly is going on in the economy.
Please help me solve both a and b. Please do not round the answer and write the full number given. if you could also show your steps because I am slightly confused. Thank you so much and I will be glad to rate you.
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