Vladimir buys 1.20 pounds of Skittles, 312 pounds of M&Ms, and 5.2 pounds of pretzels. If the candy cost $1.20 a pound and t
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Answer: 0.8490
Step-by-step explanation:
Given : The population of lengths of aluminum-coated steel sheets is normally distributed with a mean of 30.0 inches and a standard deviation of 0.9 inches.
i.e. and
Let x denotes the lengths of aluminum-coated steel sheets.
Required Formula :
For n= 36 , the probability that the average length of a sheet is between 29.82 and 30.27 inches long will be :-
∴ Required probability = 0.8490
Answer:
a) 0.32 = 32% probability that your bid will be accepted
b) 0.72 = 72% probability that your bid will be accepted
c) An amount in excess of $15,400.
Step-by-step explanation:
An uniform probability is a case of probability in which each outcome is equally as likely.
For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.
The probability that we find a value X lower than x is given by the following formula.
Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,400 and $15,400.
This means that
a. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?
You will win if the competitor bids less than 12000. So
0.32 = 32% probability that your bid will be accepted
b. Suppose you bid $14,000. What is the probability that your bid will be accepted?
You will win if the competitor bids less than 14000. So
0.72 = 72% probability that your bid will be accepted
c. What amount should you bid to maximize the probability that you get the property (in dollars)?
His bid is uniformly distributed between $10,400 and $15,400.
So, to maximize the probability that you get the property, you should bid an amount in excess of $15,400.