1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mash [69]
3 years ago
13

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that th

e highest bid in excess of $9,600 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $9,600 and $14,500. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?
Mathematics
1 answer:
snow_tiger [21]3 years ago
6 0

Answer:

0.49 = 49% probability that your bid will be accepted

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.

P(X \leq x) = \frac{x - a}{b-a}

Uniformly distributed between $9,600 and $14,500.

This means that a = 9600, b = 14500

Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?

Your bid will be accepted if the competitor's bid X is lower than 12000. So

P(X \leq 12000) = \frac{12000 - 9600}{14500 - 9600} = 0.49

0.49 = 49% probability that your bid will be accepted

You might be interested in
1+4=5 2+5=12 3+6=21 8+11=?
ziro4ka [17]
Okay so we just need to find out the pattern...
in this case the pattern is adding..
we did 
1 + 4 = 5 
2 + 5 = 12
we figure this one out by adding 2 and 5 twice so it look like this 
2 + 5 + 5 = 12 
now moving on to our next one 
3 + 6 = 21 
so we added 3 and added 6, three times so look
3 + 6 + 6 + 6 = 21 
so now 
8 + 11 = 96 because we added 8 and added 11, eight times look..
8 + 11 + 11 + 11 + 11 + 11 + 11 + 11 + 11 = 96 
so our answer to 8 + 11 is 96!
hope this helps:)
and don't forget 2 
MARK ME BRAINLIEST! :D

8 0
3 years ago
What is the answer to this problem?​
eimsori [14]

Answer:

A=3

Step-by-step explanation:

srry if I'm worng. hop it helped

6 0
3 years ago
Please help! image is below
alexdok [17]

Answer:

b = 18 units

Step-by-step explanation:

3 0
3 years ago
What is the value of f(10) when f(x) = 4x - 8?
marin [14]
F(10)=4(10)-8
=32

Here you go
8 0
3 years ago
Read 2 more answers
47 + (-13 + 7)- (-13 -6)
Andrei [34K]

Answer:

60

Step-by-step explanation:

(-13 + 7) = -6

(-13 -6) = -19

-6 - -19 =13

47+13 =60

6 0
3 years ago
Other questions:
  • Your mom plus dad equals you
    15·1 answer
  • Which of the following pair of times has an elapsed time of 3 hours and 20 minutes between the times?
    9·1 answer
  • Line segment AB is dilated to create line segment A'B' using point Q as the center of dilation. Point Q is the center of dilatio
    14·2 answers
  • What is the product of 10/2x300
    12·1 answer
  • Question in image! Thanks for help! (Also im posting more questions like this so if these are easy for you keep a eye out on my
    15·2 answers
  • B)the LCM of three numbers is 24 and their G.C.D is 4. If two<br>find the other number​
    12·1 answer
  • What is 2x+7 plus 5 simplified
    5·2 answers
  • In which equation is the constant of proportionality 5?
    14·1 answer
  • Alan bought a desk on sale for $589. This price was 24% less than the original price. What was the original price?​
    15·1 answer
  • Evaluate the following expression if x = -7.<br> 3x2 - 4x + 5
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!