Answer: 0.375

## Explanation Since the government has set a floor of $38/kg (a or the lower boundary) and the ceiling of $54/kg (b or the upper boundary). Thus, n = 54 – 38 = 16 The possible outcomes (prices) of copper that fall below $44 is $44 – $38 = $6. Therefore, the probability that the prices of copper will be set under $44 is: $$ \frac{(X - a)}{(b - a)} = \frac{(44 - 38)}{(54 - 38)} = 0.375 $$ This calculation uses the uniform distribution probability formula where: - Lower bound (a) = $38/kg - Upper bound (b) = $54/kg - Target value (X) = $44/kg The probability is calculated as the ratio of the favorable range (from $38 to $44) to the total range (from $38 to $54).

Author: Tanishq Prabhu