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Sagot :
Answer:
a) 0.3333 = 33.33% probability that the low bid on the next intrastate shipping contract is below $25,000.
b) 0.1667 = 16.67% probability that the low bid on the next intrastate shipping contract is in excess of $28,000.
Step-by-step explanation:
A distribution is called uniform if each outcome has the same probability of happening.
The uniform distribution has two bounds, a and b.
The probability of finding a value lower than x is given by:
[tex]P(X < x) = \frac{x - a}{b - a}[/tex]
The probability of finding a value higher than x is given by:
[tex]P(X > x) = \frac{b - x}{b - a}[/tex]
Uniformly distributed between 23 and 29
This means that [tex]a = 23, b = 29[/tex]
(a) Find the probability that the low bid on the next intrastate shipping contract is below $25,000.
[tex]P(X < 25) = \frac{25 - 23}{29 - 23} = 0.3333[/tex]
0.3333 = 33.33% probability that the low bid on the next intrastate shipping contract is below $25,000.
(b) Find the probability that the low bid on the next intrastate shipping contract is in excess of $28,000.
[tex]P(X > 28) = \frac{29 - 28}{29 - 23} = 0.1667[/tex]
0.1667 = 16.67% probability that the low bid on the next intrastate shipping contract is in excess of $28,000.
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