338+35 Hehejdhdbdhchdsjjxxjdjdjdjdjjxdjdjjdjdjdjdjdhdjdjdhd
1 answer:
You might be interested in
If ( x - 1 ) * ( x + 3 ) = 0 => x = 1 or x = -3;
But, (x-1)(x+3)=1 => x^2 + 3x -x - 3 = 1 => x^2 + 2x - 4 = 0;the discriminant is 2^2 - 4 * 1 * ( -4 ) = 20 => the solutions are x1 =
( - 2 +
) / 2 ; x2 = - 2 - ) / 2;
But, (x-1)(x+3)=1 => x^2 + 3x -x - 3 = 1 => x^2 + 2x - 4 = 0;the discriminant is 2^2 - 4 * 1 * ( -4 ) = 20 => the solutions are x1 =
( - 2 +
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.