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
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

You might be interested in
Luke made cookies he used 1/2 of a cup of flour and 2/5 of cup of sugar. How much more flour than sugar did Luke use
VLD [36.1K]

Answer:

1/10

Step-by-step explanation:

2/5 a cup of sugar

1/2 a cup of flour

-Convert to 10ths:

4/10 of sugar, and 5/10 of flour.

Luke used 1/10 more flour than sugar.

8 0
2 years ago
Jorge finds that 56% of his 75 classmates like salsa music and 80% of his 60 relatives like salsa music how many more of Jorge’s
Natasha_Volkova [10]
<span>To solve this problem you must apply the proccedure shown below:
 1. You have the following information given in the problem above:
 - There are 75 classmates.
 - 56% of his 75 classmates like salsa music and 80% of his 60 relatives like salsa music.
 2. Therefore, you have:
 - Number of his classmates that likes salsa music:
 75x0.56=42 
 - Number of his r</span>elatives that like salsa music:
 60x0.80=48
 3. Then you have:
 48-42=6
 Therefore, the answer is: 6.
8 0
3 years ago
Find the surface area of the cylinder.
Novosadov [1.4K]

I hope this helps you

4 0
3 years ago
The process of completing the square will always work. <br> True<br> False
Bingel [31]
  Completing the square will always work for any quadratic, because you can always manipulate any quadratic by following completing the square.
4 0
3 years ago
I BEG U HELP ME!! Does each equation represent exponential decay or exponential growth?
ivolga24 [154]

Answer:

  see below

Step-by-step explanation:

If the base of the exponential term is greater than 1, it represents growth.

If the base of the exponential term is less than 1, it represent decay.

If there is no exponential term, the characterization as exponential growth or decay does not apply.

8 0
3 years ago
Other questions:
  • Solve the compound inequality 7x &gt; –35 and 3x ≤ 30.
    15·2 answers
  • Combine the x tiles to get
    8·1 answer
  • Passing through the coordinate (10,12) parallel to y=6
    11·1 answer
  • A tower has a cone-shaped attic. The diameter of the attic is 18 ft and its height is 18 ft.
    13·1 answer
  • How can you rewrite 3(2-b) using the distributive property?
    5·2 answers
  • Which expression could be used to find the missing value in X Divided by 3/5 = 7/4
    13·1 answer
  • What is the value of the expression of -(-4)
    15·1 answer
  • WILL GIVE BRAINLIEST
    5·1 answer
  • Given the two functions, which statement is true?
    13·1 answer
  • Grayson biked 45 miles in 3 hours. Maya biked 26 miles in 2 hours. If they both kept a constant speed, how much faster did Grays
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!