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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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IceJOKER [234]
(1) circumference of a circle = 2π.R
(2) area of a circle = π.R²

Area = 452.16 m² (given), so we can calculate the radius:
452.16 = π.R²
452.16/π = R²

143.92 = R²  → R =√143.92 ≈ 12 m
Having R = 12, now we can calculate the circumference :

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(0,2) is your answer

Explanation

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This equation basically says that a number plus 3/5 equals 2 so we can simply:

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You know that there is a strong correlation between the consumption of ice cream and body weight. The Pearson's r = 0.78. You al
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Answer:

y = 7.8x + 26

Step-by-step explanation:

Given the following :

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Formular for the regression line :

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Gradient (m) = change in y / change in x

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