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