A gasoline wholesaler distributor has bulk storage tanks which hold supplies and are filled every Monday. Of interest to the wholesaler is proportion of this supply that is sold throughout the week. Over many weeks of observation, the distributor found that this proportion could be well modeled by the standard beta distribution with alpha = 2 and beta = 3. Find the probability at most 88% of the supply is sold in a week.
Find the probability less than 60% of the supply is sold in a week.
Half of the weeks are below what proportion of the supply sold?