You put $500 into an account and left it alone for three years earning simple interest. At the end of three years, you withdrew
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Answer:
A gasoline tank for a certain car is designed to hold 14.0 gal of gas.
a)What is the probability that a randomly selected tank will hold at most 13.7 gal?
We are supposed to find
Refer the z table for p value
p value = 0.0668
So,
The probability that a randomly selected tank will hold at most 13.7 gal is 0.0668
b)What is the probability that a randomly selected tank will hold between 13.4 and 14.3 gal?
We are supposed to find
P(x<13.4)=P(z<-3)= 0.0013
P(x<14.3)= 0.9332
The probability that a randomly selected tank will hold between 13.4 and 14.3 gal is 0.9319
(c) If two such tanks are independently selected, what is the probability that both hold at most 14 gal?
We are supposed to find
Refer the z table for p value
p value = 0.5
So,
Two such tanks are independently selected, the probability that both hold at most 14 gal = 0.5 * 0.5 = 0.25
Hence If two such tanks are independently selected, the probability that both hold at most 14 gal is 0.25
Answer:
And for this case we can use the cumulative distribution function given by:
And using this formula we have this:
Then we can conclude that the probability that your bid will be accepted would be 0.41
Step-by-step explanation:
Let X the random variable of interest "the bid offered" and we know that the distribution for this random variable is given by:
If your offer is accepted is because your bid is higher than the others. And we want to find the following probability:
And for this case we can use the cumulative distribution function given by:
And using this formula we have this:
Then we can conclude that the probability that your bid will be accepted would be 0.41