The annual revenue earned by Target for fiscal years 2004 through 2010 can be approximated by R(t) = 41e0.094t billion dollars per year (0 sts 7). where t is time in years (t = 0 represents the beginning of fiscal year 2004). Suppose that, from the start of fiscal year 2004 on, Target invested its revenue in an investment that depreciated continuously at a rate of 4% per year. What, to the nearest $10 billion, would the total value of Target's revenue from the beginning of fiscal year 2007 to the beginning of fiscal year 2010 have been at the beginning of fiscal year 2010? billion
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
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