Upon studying low bids for shipping contracts, a microcomputer manufacturing company finds that intrastate contracts have low bi
1 answer:
Answer:
0.4286 = 42.86% probability that the low bid on the next intrastate shipping contract is below $25,000.
Step-by-step explanation:
A distribution is called uniform if each outcome has the same probability of happening.
The uniform distributon has two bounds, a and b, and the probability of finding a value lower than x is given by:
Uniformly distributed between 22 and 29, in units of thousands of dollars.
This means that .
(a) Find the probability that the low bid on the next intrastate shipping contract is below $25,000.
This is P(X < 25). So
0.4286 = 42.86% probability that the low bid on the next intrastate shipping contract is below $25,000.
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