Let X denote the amount of time a book on two-hour reserve is actually checked out, a suppose the cdf is the following. P(X ? 1) F(x) = Use the cdf to obtain the following. P(X > 1.5) The median checkout duration mu [solve 0.5 = F(mu )] F?'(x) to obtain the density function f(x) f(x) = F?'(x) = E(X) V(X) and ?x If the borrower is charged an amount h(X) = X2 when checkout duration is X, compute the expected charge E[h(X)].

Q&A Education