financial advisor at a financial consulting firm spends time with his investing clients throughout the year. Based on the historical data, he finds that the consulting time T spent with a client can be modeled as a continuous, uniformly distributed random variable, with the minimum value of 50 minutes and the maximum value of 183 minutes. What is the probability that his consulting time with an investor client will not exceed 2 hours (i.e., 120 minutes)?
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Answer:
financial advisor at a financial consulting firm spends time with his investing clients throughout the year. Based on the historical data, he finds that the consulting time T spent with a client can be modeled as a continuous, uniformly distributed random variable, with the minimum value of 50 minutes and the maximum value of 183 minutes. What is the probability that his consulting time with an investor client will not exceed 2 hours (i.e., 120 minutes)?
Explanation:
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Explanation:
financial advisor at a financial consulting firm spends time with his investing clients throughout the year. Based on the historical data, he finds that the consulting time T spent with a client can be modeled as a continuous, uniformly distributed random variable, with the minimum value of 50 minutes and the maximum value of 183 minutes. What is the probability that his consulting time with an investor client will not exceed 2 hours (i.e., 120 minutes