Suppose you and three partners form a new wealth management firm. To generate new clients,...
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Suppose you and three partners form a new wealth management firm. To generate new clients, your firm purchases a list of prospective clients from a consulting agency, and each prospect is assigned a financial rating that takes continuous values between zero (low financial rating) and 10 (high financial rating). Suppose the ratings are uniformly distributed on the zero-ten interval. What is the probability that a prospect randomly drawn from the list has a financial rating greater than 8.5
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