Introductory Econometrics 4th Edition by Jeffrey Wooldridge

Exercise 2

For a randomly selected county in the United States, let X represent the proportion of adults over age 65 who are employed, or the elderly employment rate. Then, X is restricted to a value between zero and one. Suppose that the cumulative distribution function for X is given by F(x) =3x 2 - 2x 3 for 0 × 1. Find the probability that the elderly employment rate is at least.6 (60%).