With the known values of a = 200,000 and b = 230,000, the first equation for the probability density function for the sales price of a home is found as follows. f(x) = 1/b – a, a ≤ x ≤ b = 1/230,000 −...


With the known values of a = 200,000  and b = 230,000,  the first equation for the probability density function for the sales price of a home is found as follows.


f(x)         =            1/b – a,                                a ≤ x ≤ b


= 1/230,000 − 200000,                                 200,000 ≤ x ≤ 230,000


= 1/30000,                                                    200,000 ≤ x ≤ 230,000



Everywhere else, the probability density function will just be 0. Therefore, the full probability density function for the sales price of a home follows.




f(x) =     _______________            200,000 ≤ x ≤ 230,000


                                                 elsewhere




Jun 01, 2022
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