Cost The daily cost x (in dollars) of electricity in a city is a random variable with the probability density function
Find the expected daily cost of electricity in the city.
To calculate: The expected daily cost of electricity consumption in a city with the probability density function
Given information:
The daily cost of electricity consumption represented by the random variable x has a probability density function
Formula used:
If ‘f’ is the probability density function of a continuous random variable x over the interval a,
And, the median ‘x’ is the number m such that;
The formula for integration by parts is;
Calculation:
Consider given probability density function :
Consider the primary equation,
Use integration by parts formula
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