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 )
If the price of gasoline has increased from $2.00 per gallon to $3.00 per gallon. how would this price change be represented on the demand curve is: a movement from one point on the line to a higher point on the line.
<h3>What is demand curve?</h3>
Demand curve can be defined as the curve that show price of goods and services produced as well as the quantity demanded for the goods produce at a particular period of time.
The price change can be represented on the demand curve when price increase and this happen when the price of goods move from one point on a line to a higher point on the line
Therefore how would this price change be represented on the demand curve is: a movement from one point on the line to a higher point on the line.
Learn more about demand curve here:
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Answer:
I will need 26.4 pounds of the expensive nuts and 1.6 pounds of the cheap nuts.
Step-by-step explanation:
Since I have one type of nut that sells for $ 4.50 / lb and another type of nut that sells for $ 8.00 / lb, and I would like to have 28 lbs of a nut mixture that sells for $ 7.80 / lb, to determine how much of each nut will I need to obtain the desired mixture, the following calculation must be performed:
8 x 0.95 + 4.5 x 0.05 = 7.825
8 x 0.94 + 4.5 x 0.06 = 7.79
0.94 x 28 = 26.32
26.4 x 8 + 1.6 x 4.5 = 218.4
218.4 / 28 = 7.8
Thus, I will need 26.4 pounds of the expensive nuts and 1.6 pounds of the cheap nuts.
Answer:
7/4
Step-by-step explanation:
Answer:
B
Step-by-step explanation: