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Suppose that the value of a stock varies each day from $12. 22 to $45. 34 with a uniform distribution. Given that the stock is greater than $19, find the probability that the stock is more than $28. Give your answer accurate to four decimal places. Enter an integer or decimal number, accurate to at least 4 decimal places [more. ]

User Ctomek
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To find the probability that the stock is more than $28, given that it is greater than $19, we first need to determine the total range of possible values that satisfy the condition of being greater than $19.

The stock's range varies from $12.22 to $45.34, but we are only interested in the part that is greater than $19. So, the range is from $19 to $45.34.

Now, we need to find the probability that the stock is more than $28 within this range.

Probability = (Number of favorable outcomes) / (Total number of possible outcomes)

The number of favorable outcomes is the part of the range greater than $28, which is $28 to $45.34.

Total number of possible outcomes is the entire range from $19 to $45.34.

Probability = \(\frac{45.34 - 28}{45.34 - 19} \approx \frac{17.34}{26.34} \approx 0.6581\)

Rounded to four decimal places, the probability that the stock is more than $28, given that it is greater than $19, is approximately 0.6581.
User Indra
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