Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,200 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,200 and $14,500.
a. Suppose you bid $12,000. What is the probability that your bid will be accepted?
b. Suppose you bid $14,000. What is the probability that your bid will be accepted?
c. What amount should you bid to maximize the probability that you get the property?
d. Suppose you know someone who is willing to pay you $16,000 for the property. Would you consider bidding less than the amount in part (c)? Why or why not?

Answers

Answer 1

Answer:

0.4185;

0.8835;

$14500;

No

Step-by-step explanation:

Given that :

a = 10200

b = 14500

f(y) = 1 /(b - a) = 1/(14500 - 10200) = 1/4300 = 0.0002325

A.)

P(x <12000) = ∫fydy at(12000 ; 10200) = ∫0.0002325dy at(12000 ; 10200)

P(x < 12000) = 0.0002325(12000) - 0.0002325(10200) = 0.4185

B.)

P(x <14000) = ∫fydy at(14000 ; 10200) = ∫0.0002325dy at(14000 ; 10200)

P(x < 14000) = 0.0002325(14000) - 0.0002325(10200) = 0.8835

(c.) 14500 ; because competitor's bid is at most 14500

D.) No ; Because by bidding $14500 ; getting the property is certain ; once the property is gotten, then it could be resold for $16000, to make a profit of $1500 ; by bidding less, winning the bid becomes uncertain which may means the profit might be lost in the long run.


Related Questions

Factor the expression

10x + 25

A. 2(5x + 10)
B. 5(2x + 5)
C. 10(x + 5)
D. 5(2x + 25)

Answers

Step-by-step explanation:

The correct answer is ''B. 5(2x + 5)''

The area of a poster board is (x2 + 9x – 10) square inches. Find the dimensions of the
poster board if x = 16.
The dimensions of the poster board are
inches by
inches.

Answers

Answer:

                                                 

Step-by-step explanation:

 

Dont go on bit. ly/3a8Nt8n (virus warning)
SPREAD NEWS PLEASE, THANKS <3
i have no more points from saying this so please at least just one post of this

Answers

okay! thank you so much for the awarness!
Thank you but can u Please help — Neil is going to a bookstore 45 miles away. The bridge was closed on the way back, so
he had to take an alternate route and had to drive 15 mph slower, which make the trip
back take 7 minutes longer. How fast was he going on the way to the bookstore?

5g ∙ 7h in standard form

Answers

9514 1404 393

Answer:

  35gh

Step-by-step explanation:

The standard form has one coefficient, and generally has the variables in lexicographical order.

  35gh

Mari used a thermometer to record temperatures of -3.4 Celsius and 1.6 Celsius . Which temperature in degrees is lower

Answers

I think is would be -3.4

if y + 3 = 14, what is the value of 3(y + 5)

Answers

Answer:

48

Step-by-step explanation:

y + 3 = 14

y = 11

3(y + 5) = 3(11 + 5) = 3(16) = 48

Answer: 48

Objects moving at the same speed always have the same velocity.

A: False

B: True

Answers

Answer:

A: False

Step-by-step explanation:

Answer:

A

Step-by-step explanation:

Velocity is the rate at which an object moves and which way it is going, while speed is just the rate.

Hellpppppppppppppppppppppppppppppppppppppppp

Answers

Answer:

._.     -_-     -.-    .-.   --__--

Step-by-step explanation:

LOOK AT THE PHOTO PLEASE

Answers

Answer:

The answer to the question provided is 4.

Step-by-step explanation:

[tex] \: \: \: \: \: \: \: \: \: \: 9x + 4 = 5x + 20 \\ \frac{ - 5x = - 5x}{4x + 4 = 20} \\ \frac{ \: \: \: \: \: \: \: \: - 4 = - 4}{ \frac{4x}{4} = \frac{16}{4} } \\ x = 4[/tex]

[I apologize if the answer to the question is inaccurate]


Can someone give me the answer to question 4

Answers

Answer:

105+54=Z [being sum if interior angle of triangle equal to opposite exterior angle]159=Ztherefore,Z=159

Bananas cost $ 0.59 per pound.Write an equation that could be used to find the total cost,y,of x pounds of bananas.​

Answers

I think it is 5 Bc I do and if you got to know so bad

Answer:

Step-by-step explanation:

5

Please help me
10 + 963 = ?

Answers

Answer:

hi

Step-by-step explanation:

10+963=973

have a nice day

Answer:

10+963= 973

Step-by-step explanation:

Answer 973

i hope this help

What is the factored form of this expression? 27n3+125n3

Answers

Answer:

27n³+125n³ = 152n³

5.337n)(5.337n)(5.337n)

Answer:

Step-by-step explanation: use math-way a chegg service

You want to buy a pet rabbit that costs ​$49. You already have ​$18 and you plan to save ​$9 per week. If w represents the number of weeks until you have enough money to buy the rabbit​, what equation could you use to find the value of​ w? Use pencil and paper. Explain how you could set up an equation to find the amount of money you should save each week if you want to buy the rabbit in six weeks.

Answers

Answer:

You would need $31 so W=4 and you would have $5 left

Step-by-step explanation:

i did 49 minus 18 which gave me 31 so 9c3 would be 27 so i did 9 times 4 would =36 and if you work for 6 weeks you would have 54 and add 18 to it and you would have $72

sorry if im wrong or late

The product of two factors is x2+ 6x + 8. If one of the factors is (x + 4), what is the other factor?

Answers

(x + 4) (x + 2)
=x^2 +2x + 4x + 8
=x^2 + 6x + 8
the other factor is (x + 2)

WILL GIVE BRAINLIEST to whoever solves this entire problem (completes all the steps). I WILL REPORT if you just steal the points without giving an answer. I know this is really long but I really need help on this and am low on time. To whoever answers this, thank you so much, you are a life saver.

We created this inequality to represent how Amy can meet her revenue goals:

-100x2 + 15,750x + 212,500 ≥ 243,600

In this activity, you’ll solve this inequality to find the minimum ticket price Amy should charge to meet her minimum revenue goal.

Step 1: set the inequality greater than or equal to zero
Step 2: simplify the inequality by dividing by the GCP so the leading coefficient is positive
Step 3: factor the left side of the inequality by grouping
Step 4: solve the quadratic inequality. Remember to check any possible solutions for viability.
Step 5: what is the minimum number of $2 increases that Amy needs to apply to the ticket price to reach her desired revenue?
Step 6: What’s the minimum ticket price that Amy can charge and reach her goal? Recall that the ticket price is represented by 25 + 2x, where x represents the number of $2 increases.

Seriously thank you to anyone who does this. I am low on time and this helps a bunch.

Answers

Trust me these are the correct answers :)

Answer:

Part A: -100x2 + 15,750x − 31,100 ≥0

Part B: 2x2-315x+622 ≤0

Part C: (2x-311)(x-2) ≤0

Part D:2 ≤ x ≤ 155.5

Part E: We know x = number of $2 increases. So, from the compound inequality, 2 ≤ x ≤ 155.5, we can conclude that the minimum possible value of x is 2.

Part F: 29

please help! Thank you :) also don't spam for points I know a moderator

Answers

Answer:

1) True

2) False

3) True

4) True

5) False

Name the figure below in two different ways.

Answers

Answer:

MUV

VUM

Step-by-step explanation:

add the line arrow symbol

Question 4

1p

Given the chart below, calculate the number of days one

could expect to have off due to hurricanes. Round to the nearest

day (enter your answer as a number only, you don't need to write "days" at the

end)

Number of Hurricane Days Each School Year

1

2

3

4

0

5

6

7

Days:

Chances of

having that

many days oft:

03

02

0.25

0.2

0.02

0.01

0.01

0.01

Answers

Answer:

2

Step-by-step explanation:

Given

See attachment for chart

Required

Number of off days

To do this, we simply calculate the expected value of the chart.

This is calculated as:

[tex]E(x) = \sum x * f[/tex]

Where

x = days

f = chances

So, we have:

[tex]E(x) = 0* 0.3 + 1 *0.2 + 2 * 0.25 + 3 * 0.2 + 4 * 0.02 + 5 * 0.01 + 6 * 0.01 + 7 * 0.01[/tex]

[tex]E(x) = 1.56[/tex]

[tex]E(x) \approx 2[/tex]

Harry manages a sales force which sells several products in different sales territories. A random sample of 25 territories were selected and the data is provided in an Excel worksheet labelled Harrys. The variables include total sales credited to the sales representative (Sales), the length of time employed in months (time), the market potential (Poten), the advertising expense for the territory (AdvExp), the market share (Share), the change in market share over the previous three years (Change), the number accounts assigned to the sales representative (accounts), an index representing the workload (work), the rating on the last performance review (rating) and whether it is a star territory (star territories have performed well in the past).
Using the methods discussed in this class, determine the “best” regression model to predict Sales. Write a brief report (less than two pages) summarizing your analysis, including key statistical results, conclusions, and recommendations. Include any appropriate technical material in an appendix.

Answers

Answer:

13,000 i think

Step-by-step explanation:

andrew, who is about 120 cm tall, notices that when he stands at the bottom of his garden, which is 20 meters away from his house, his dad, who is 180 cm tall, looks as big as the house when he is about 2.5 meters away. How high is the house ?​

Answers

Answer: http://gestyy.com/eyLImX

Step-by-step explanation: go here

Is (4, 3) a solution to the inequality 7x + 5y = 15?
yes
no

Answers

Answer:

no

Step-by-step explanation:

7x+5y=15

(x,y)

(4,3)

put in 4 for x and 3 for y

7(4)+5(3)=15

43=15

This equation is impossible

Hope that helps :0

Step-by-step explanation:

7x+5y=15 (x=4,y=3)

7(4)+5(3)=15

28+15=15

43>15

they are no equal

follow me

100 POINTS AND DOING BRAINIEST create a factorable polynomial with a GCF of 6 rewrite that polynomial in two other equivalent forms explain how each form was created. Please help

Answers

Answer:

100 point sheeshhh ill take em but i don't have awnsers m8

Compare and 1.6. Use <, >, or =.
A. 5/3 = 1.6
B. 5/3 < 1.6
c. 5/3 > 1.5

Answers

Step-by-step explanation:

[tex] \frac{5}{3} = 1 \frac{2}{3} = 1.67[/tex]

Since

[tex]1.67 > 1.6 \: and \: > 1.5[/tex]

C is the answer

A student ties a string around a weight and swings the weight in a circle around her body. If the student
represents the Sun and the weight represents

Answers

Maybe a planet I’m guessing

Mrs. Crosland asked students to factor the expression 28x - 8. The students offered the answers shown in the box. Which student(s) offered answer(s) equivalent to the original expression? A. only Danny B. only Irene C. both Carlos and Danny D. both Carlos and Irene​

Answers

Answer:

Step-by-step explanation:

I can't see the factorisation that the students did. That is, Danny, Carlos and Irene. You either forgot to upload, or you couldn't.

However, I will factorise the expression for you, while you check you book to know who did the exact same factorisation.

28x - 8

This equation can be factorised when divided by 2, into

2(14x - 4)

At the same time, it can be factorised when divided by 4, into

4(7x - 2)

Basically, either of the students who choose between 2(14x - 4) and 4(7x - 2) is/are whom you'd pick for your answer.

PLEASE HELP!!!!!!!!!!!!! ILL GIVE YOU BRAINLEST AND EXTRA POINTS!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

73 is the correct answer

Step-by-step explanation:

I would pick 3 and 6

or C and F

Helppp me plsssssss I need this hel me out

Answers

The equation that models the table is a) y = -4x + 1.

The owner of a pizza restaurant in France knows that the time customers spend in the restaurant on Saturday evening has mean 90 minutes and standard deviation 15 minutes. He has read that pleasant odors can influence customers, so he spreads a lavender odor throughout the restaurant. Presented are the times, in minutes, for customers on the next Saturday evening.

Answers

Answer:

hello your question is incomplete attached below is the missing part

Question : What is the value of the test statistic

answer : = 5.73

Step-by-step explanation:

Mean value = 90 minutes

std = 15 minutes

Calculate the test statistic

mean value  of given data = ∑ x / n = 105.7

since the value of standard deviation is given we will assume a normal distribution

Hence we will apply  z test statistics

z = mean value of given data - Mean value / 15 √30

   = ( 105.7 - 90 )  / 15 √30

  = 5.73

A car manufacturer has two production plants in different cities. Every day, plant A produces 120 of a certain
type of car, while plant B produces 80 of those cars. On average, all of these cars have a paint thickness of
0.04 mm with a standard deviation of 0.003 mm.
Every day, quality control experts take separate random samples of 10 cars from each plant and calculate the
mean paint thickness for each sample. They then look at the difference between those sample means.
Consider the formula:
031-32 =
02
+
ni 12
Why is it not appropriate to use this formula for the standard deviation of TA
IB?

Answers

Answer: We cannot assume independence for the cars sampled from plant B.

Step-by-step explanation: Khan Academy “With a sample size of 10 cars, we need at least 100 cars in the population to assume independence based on the 10% condition, but there are only 80 cars made each day at plant B.”

Answer: We cannot assume independence of the cars sampled from plant B.

Step-by-step explanation:

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