The document discusses the waiting time until the delivery of a new component for an industrial operation, which follows a uniform distribution between 1 to 5 days. It presents the cost of the delay using a probability density function, resulting in a calculated value of y as 3.125. Key parameters include the uniform distribution formula and cost analysis.

1. The waiting time X until delivery of a new component for an industrial operation is uniformly
distributed over the interval from 1 to 5 days. The cost of this delay is given by probability
density function for Y.
Solution
uniform distribution over the interval from 1 to 5
x = 1 / (5-1 ) = 1/4
y = 2* (1/4)^2 + 3
y = 3.125