Suppose the time to process a loan application follows a uniform distribution over the range of 8 to 13 days. what is the probability that a randomly selected loan application takes longer than 12 days to process?

0.2

Step-by-step explanation:

We know that , the probability density function for uniform distribution is given buy :-

, where x is uniformly distributed in interval [a,b].

Given : The time to process a loan application follows a uniform distribution over the range of 8 to 13 days.

Let x denotes the time to process a loan application.

So the probability distribution function of x for interval[8,13] will be :-

Now , the probability that a randomly selected loan application takes longer than 12 days to process will be :-

Hence, the probability that a randomly selected loan application takes longer than 12 days to process = 0.2

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