Answer:
1. 1/80 = 0.0125
2. 1/2 = 0.5
3. 280
4. 23.09
5. 1/2 = 0.5
Step-by-step explanation:
1. height of probability density function
= 0.0125
2. probabilty that you will win the auction given a bid of 280
=
3. mean secret service price
4. the standard deviation of the above
= (320-240)/12^1/2
= 23.09
5. with a new bid of 300 dollars, probability you will win auction
= [(300-280)/(320-240)]/[(320-280)/(320-240)
= (20/80) / (40 /80)
= 0.25/0.5
= 0.5
Answer:
In 1981 was the building worth double it’s value.
Step-by-step explanation:
Given : A townhouse in San Francisco was purchased for $80,000 in 1975. The appreciation of the building is modeled by the equation : , where t represents time in years.
To find : In what year was the building worth double it’s value in 1975?
Solution :
The amount is $80,000.
The building worth double it’s value in 1975.
i.e. amount became A=2(80000).
Substitute in the model,
Taking log both side,
i.e. Approx in 6 years.
So, 1975+6=1981
Therefore, in 1981 was the building worth double it’s value.