Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 19

The percent price increase p on a variety of retail food prices over a 1-year period varied from 5% to 10% in all cases. Because of the distribution of p values, the assumed probability distribution for the next year is
where
For a continuous variable the cumulative distribution F ( X ) is the integral of f ( X ) over the same range of the variable. In this case
a) Graphically assign RNs to the cumulative distribution, and take a sample of size 30 for the variable. Transform the X values into interest rates.
b) Calculate the average p value for the sample.