Solution Found!
Suppose that X has a lognormal distribution withParameters
Chapter 4, Problem 172E(choose chapter or problem)
Suppose that X has a lognormal distribution with parameters \(\theta=2\) and \(\omega^{2}=4\). Determine the following in parts (a) and (b):
(a) \(P(X<500)\)
(b) Conditional probability that \(X<1500\) given that \(X>1000\)
(c) What does the difference between the probabilities in parts (a) and (b) imply about lifetimes of lognormal random variables?
Equation transcription:
Text transcription:
\theta=2
\omega^{2}=4
P(X<500)
X<1500
X>1000
Questions & Answers
QUESTION:
Suppose that X has a lognormal distribution with parameters \(\theta=2\) and \(\omega^{2}=4\). Determine the following in parts (a) and (b):
(a) \(P(X<500)\)
(b) Conditional probability that \(X<1500\) given that \(X>1000\)
(c) What does the difference between the probabilities in parts (a) and (b) imply about lifetimes of lognormal random variables?
Equation transcription:
Text transcription:
\theta=2
\omega^{2}=4
P(X<500)
X<1500
X>1000
ANSWER:Solution:
Step 1 of 3:
It is given that x has the Lognormal distribution with and
.
Using this we need to find the required values.