Suppose X is a Gamma random variable with a mean of 2028 and
Suppose X is a Gamma random variable with a mean of 20.28 and a standard deviation of 7.8. Determine the probability that X is larger than 15.
Show and explain how to do this type of problem. Thanks!
Solution
The probability is
P(X>15) = P((X-mean)/s >(15-20.28)/7.8)
=P(Z>-0.68)
=0.7517 (from standard normal table)
