Answer:
0.4
Step-by-step explanation:
Given:-
- The uniform distribution parameters are as follows:
a = $10,000 b = $15,000
Find:-
Suppose you bid $12,000. What is the probability that your bid will be accepted?
Solution:-
- We will denote a random variable X that defines the bid placed being accepted. The variable X follows a uniform distribution with parameters [a,b].
X ~ U(10,000 , 15,000)
- The probability of $12,000 bid being accepted can be determined by the cdf function of the uniform distribution, while the pmf is as follows:
Pmf = 1 / ( b - a )
Pmf = 1 / ( 15,000 - 10,000 )
Pmf = 1 / ( 5,000 )
Here are the calculations for Super Sport:
[12 ($72.50 x 0.8)] 1.065 = $741.24
Here is the math for Double Dribbles:
[12($54.75 x 1.09)] + (12 x $5.99) = $788.01
$788.01 - $741.24 = $46.77
The difference in price is $46.77.
They had $80 then they cut the price. so 216-80=136
136/2=68
68+20=88
they sold 88 tickets