1. ## Beta pdf

Q: The weekly repair cost Y for a machine has a pdf given by

$\displaystyle f(y)=\left\{\begin{array}{cc}3(1-y)^{2},&\mbox{} 0<y<1\\0,&\mbox{}elsewhere\end{array}\right.$

with measurements in hundreds of dollars. How much money should be budgeted each week for rpair costs so that the actual cost will exceed the budgeted amount only 10% of the time?

I am not sure how to start this problem. Do I begin by finding P(Y>.1) or do I just need to sovle for the lower limit of the integral equal to 10% and then multiply by $100? 2. Originally Posted by Danneedshelp Q: The weekly repair cost Y for a machine has a pdf given by$\displaystyle f(y)=\left\{\begin{array}{cc}3(1-y)^{2},&\mbox{}
0<y<1\\0,&\mbox{}elsewhere\end{array}\right.$with measurements in hundreds of dollars. How much money should be budgeted each week for rpair costs so that the actual cost will exceed the budgeted amount only 10% of the time? I am not sure how to start this problem. Do I begin by finding P(Y>.1) or do I just need to sovle for the lower limit of the integral equal to 10% and then multiply by$100?
You need to find the value of $\displaystyle a$ such that $\displaystyle \Pr(Y \geq a) = 0.1$.