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FrozenT [24]
3 years ago
13

Ricky has found that for every belt buckle he sells, he makes 7 + bx 4 dollars in profit, where b is the number of belt

Mathematics
1 answer:
solong [7]3 years ago
5 0

Answer:

215$ in profit

Step-by-step explanation:

So first, plug 52 into the equation. That makes it 7+52*4. In PEMDAS, multiplication goes first. So multiply 52*4. That makes it 208. So now plug 208 into the equation. That is 7+208. Finally, you finish the equation. 7+208 is 215, so Ricky make 215$ in profit.

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Answer:

a) 0.32 = 32% probability that your bid will be accepted

b) 0.72 = 72% probability that your bid will be accepted

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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}

Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,400 and $15,400.

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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

P(X \leq 12000) = \frac{12000 - 10400}{15400 - 10400} = 0.32

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You will win if the competitor bids less than 14000. So

P(X \leq 14000) = \frac{14000 - 10400}{15400 - 10400} = 0.72

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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.

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