Math Solutions

(Step-by-Step) The price of a commodity in a store on day 'k' is a RV X_kand satisfies X_k=X_k-1+U_k, where E(U_k)=0, var;(U_k)=4, where U_kis the price



Question: The price of a commodity in a store on day 'k' is a RV \[{{X}_{k}}\] and satisfies \[{{X}_{k}}={{X}_{k-1}}+{{U}_{k}}\] , where \[E\left( {{U}_{k}} \right)=0,\,\,\operatorname{var}\left( {{U}_{k}} \right)=4\] , where \[{{U}_{k}}\] is the price increase on day 'k'. Assume that \[{{U}_{1}},{{U}_{2}},...\] are independent and the price of commodity is 50 today. Calculate the probability that the price 25 days later will be between 47 and 53.

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