Answer:
The probability is [tex]P(X > 20 ) = 0.8[/tex]
Step-by-step explanation:
From the question we are told that
The closing price of Schnur Sporting Goods Inc. common stock is uniformly distributed between $18 and $28 per share.
Given that the stock is uniformly distributed then the probability that the stock price will be more than $20 is mathematically evaluated as
[tex]P(X > 20 ) = 1 - P(X < 20 )[/tex]
Since it is uniformly distribute between $18 and $28 per share then we can solve is as follows
=> [tex]P(X > 20 ) = 1 - [\frac{ 20 - 18 }{28 -18} ][/tex]
=> [tex]P(X > 20 ) = 0.8[/tex]
