Answer:
0.39375 = 39.375% probability that the next book by this publisher captures at most 6.15% of the market
Step-by-step explanation:
Uniform probability distribution:
An uniform distribution has two bounds, a and b.
The probability of finding a value of at lower than x is:
[tex]P(X < x) = \frac{x - a}{b - a}[/tex]
The probability of finding a value between c and d is:
[tex]P(c \leq X \leq d) = \frac{d - c}{b - a}[/tex]
The probability of finding a value above x is:
[tex]P(X > x) = \frac{b - x}{b - a}[/tex]
Randomly between 3 and 11% of the market.
This means that [tex]b = 11, a = 3[/tex]
What is the probability that the next book by this publisher captures at most 6.15% of the market?
[tex]P(X < 6.15) = \frac{6.15 - 3}{11 - 3} = 0.39375[/tex]
0.39375 = 39.375% probability that the next book by this publisher captures at most 6.15% of the market
