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stiv31 [10]
3 years ago
15

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 $10,100 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,100 and $14,700. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)
Mathematics
1 answer:
Alik [6]3 years ago
8 0

Answer:

P(X

And for this case we can use the cumulative distribution function given by:

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

And using this formula we have this:

P(X

Then we can conclude that the probability that your bid will be accepted would be 0.41

Step-by-step explanation:

Let X the random variable of interest "the bid offered" and we know that the distribution for this random variable is given by:

X \sim Unif( a= 10100, b =14700)

If your offer is accepted is because your bid is higher than the others. And we want to find the following probability:

P(X

And for this case we can use the cumulative distribution function given by:

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

And using this formula we have this:

P(X

Then we can conclude that the probability that your bid will be accepted would be 0.41

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Question #2:
cluponka [151]

Answer:

\$17.59\ per\ hour

Step-by-step explanation:

we know that

The Susan's hourly wage, must be equal at least to the sum of her monthly household expenses divided by the number of hours worked at month

Remember that

1\ year=52\ weeks\\1\ year=12\ months

She works 40 hours  per week

so

40(52)=2,080\ hours\ per\ year

2,080/12=\frac{520}{3}\ hours\ per\ month

<em>Find out the monthly household expenses</em>

Sum all the expenses

Rent+ Monthly Bills+Entertainment and Food+Savings

substitute the values

\$875+\$1,276+\$648+\$250=\$3,049

Find out the hourly wage

\$3,049:\frac{520}{3}\ hours=\$17.59\ per\ hour

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3 years ago
PLEASE HELP ME YOU GUYSSS
notsponge [240]

Answer:

c i got it right on test

Step-by-step explanation:

3 0
3 years ago
-2 (6-x)+4x = 8 (2x+5)
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-26 over 5

-26/5

hope this helps!

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3 years ago
What is the volume if <br> the base is 48 square inches and height is 8 inches
nikitadnepr [17]

Answer:

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Step-by-step explanation:

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SO base times height is always gonna give you volume for most shapes

7 0
3 years ago
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