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3 years ago

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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)?

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

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2 years ago

A ladder is inclined at only 23 degrees against the wall what the height of the ladder reaches up the wall

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Step-by-step explanation:

To determine what the height of the ladder reaches up the wall we need to know the height of ladder which is not provided in the question.

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2 years ago

The hypotenuse of a right triangle is 26 mm. One leg of the right triangle is 10 mm. What is the length of the other leg? (4 poi

PIT_PIT [208]

Answer:

24 mm

Step-by-step explanation:

Since it is a right triangle, we can use Pythagorean theorem

$a^2+b^2=c^2$

where a and b are the legs, and c is the hypotenuse.

We know one of the legs is 10, and the hypotenuse is 26, so we can substitute 10 in for a, and 26 in for c.

$10^2+b^2=26^2$

Solve the exponents

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Now, solve for b. To do this, get b by itself.

First, subtract 100 from both sides

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3 years ago

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Answer:

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Step-by-step explanation:

The coordinates of triangle A are (-2,1) , (1,1), (1,-1) and (-2, -1) while that of triangle B are (-3, 6), (3, 6), (3, -3) and (-3, 3).

To transform A to be we need a combination of two transformations, and that is dilation and rotation.

If A is dilated by a scale factor three through the origin as the center of dilation and then rotated through 90° clockwise with the origin as the center of origin, then rectangle B will be obtained.

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3 years ago

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