The expected value of the outcome of the bid is $0.18
So let's start by counting how many bids are placed up to a total of 160.
100*160 = 16000.
What will be your arbitrary bid? As each bid has an equal chance of success, the average of all bids is used. (One cent plus 160 dollars) / 2 = 80 dollars (rounded)
Your odds of winning are 1/16000 (1 bid out of 16000).
If you win, your profit is 1920 ($2000 minus $80.00).
1920/16000 is $0.12
Your cost to enter the auction is $1, and your average winning offer is $0.12.
The result is $0.18 (0.12-1=-0.88).
Thus the expected value of the outcome of the bid is $0.18
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Answer:
38.5 = x
Step-by-step explanation:
9/ (x+2) = 2/9
Using cross products
9*9= 2(x+2)
Distribute
81 = 2x+4
Subtract 4 from each side
81-4 = 2x+4-4
77= 2x
Divide each side by 2
77/2 = 2x/2
38.5 = x
Answer:
4680 I think
Step-by-step explanation:
I divided your loan and interest rate by 5%
This is the concept of density, volume and mass of different materials; To calculate for the volume of an aluminium material with density of 2.375 grams per cubic centimeter and a mass of 0.78 Kilogram we proceed as follows;
Density=mass/volume
making volume the subject we get;
volume=mass/density
thus;
mass=0.78 kg= 780 g
density=2.375 g/cm^3
Hence,
volume=780/2.375=328.421 cm^3
Ok, so your answer would be 89.75
