Someone plz help me please
1 answer:
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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 )
To find the inverse of a function, we make the independent variable the subject of the formula.
Thus, the inverse of the given function is evaluated as follows.
From the work show, it can be seen that Talib's work is correct.
Thus, the inverse of the given function is evaluated as follows.
From the work show, it can be seen that Talib's work is correct.