Question

In an experiment, John has found that the low bid on a construction job can be...

  1. In an experiment, John has found that the low bid on a construction job can be regarded as a random variable having a uniform density

          f(x)     = 3/4     for 2/3 < x < 2 ,

                          0 , otherwise

  1. What is the bid value where fifty percent of the bids are above it?
  1. What is the standard deviation of the bids?

Homework Answers

Answer #1

Note-if there is any understanding problem regarding this please feel free to ask via comment box..thank you

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract to build a new plant for a major manufacturer. Based on the specifications of the new plant, Reliable has estimated what the company’s total cost would be if it were to undertake the project. Reliable estimates that the project would cost $4.55 million (M) and are thinking about bidding $5.4 M in the proposal. Reliable also estimates that the cost of preparing a proposal...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract to build a new plant for a major manufacturer. Based on the specifications of the new plant, Reliable has estimated what the company’s total cost would be if it were to undertake the project. Reliable estimates that the project would cost $4.55 million (M) and are thinking about bidding $5.4 M in the proposal. Reliable also estimates that the cost of preparing a proposal...
Find the value of C > 0 such that the function ?C sin2x, if0≤x≤π, f(x) =...
Find the value of C > 0 such that the function ?C sin2x, if0≤x≤π, f(x) = 0, otherwise is a probability density function. Hint: Remember that sin2 x = 12 (1 − cos 2x). 2. Suppose that a continuous random variable X has probability density function given by the above f(x), where C > 0 is the value you computed in the previous exercise. Compute E(X). Hint: Use integration by parts! 3. Compute E(cos(X)). Hint: Use integration by substitution!
The time Butch Cassidy and Sundance Kid can run 60 yards is random and depends on...
The time Butch Cassidy and Sundance Kid can run 60 yards is random and depends on the day. The time is measured in seconds. For Butch Cassidy it is a continuous random variable with f(x) = 1 for 6.4 ≤ x ≤ 7.4, and for Sundance Kid it is a continuous random variable with f(x) = 5/3 for 6.7 ≤ x ≤ 7.3. Etta Place thinks that the one who has more chances to run 60 yards faster than 7.2...
The percent frequency distributions of job satisfaction scores for a sample of information systems (IS) senior...
The percent frequency distributions of job satisfaction scores for a sample of information systems (IS) senior executives and middle managers are as follows. The scores range from a low of  (very dissatisfied) to a high of  (very satisfied). Round your answers to two decimal places. Job Satisfaction Score IS Senior Executives (%) IS Middle Managers (%) 1 4 3 2 8 8 3 2 12 4 39 45 5 47 32 a. Develop a probability distribution for the job satisfaction score of...
1. For which type of continuous distribution are the mean and the median always the same?...
1. For which type of continuous distribution are the mean and the median always the same? uniform and normal distributions only all of the above uniform distribution exponential distribution normal distribution 2. The skewness of a normal distribution is: negative zero positive something that varies 3. The standard normal probability distribution has a mean of ______ and a standard deviation of ______. 0, 1 1, 0 1, 1 0, 0 4. Any normal probability distribution can be converted to a...
4.4.12 How many ways can you choose seven people from a group of twenty? 5.1.2 Suppose...
4.4.12 How many ways can you choose seven people from a group of twenty? 5.1.2 Suppose you have an experiment where you flip a coin three times. You then count the number of heads. State the random variable. Write the probability distribution for the number of heads. Draw a histogram for the number of heads. Find the mean number of heads. Find the variance for the number of heads. Find the standard deviation for the number of heads. Find the...
If a random variable X has a beta distribution, its probability density function is fX (x)...
If a random variable X has a beta distribution, its probability density function is fX (x) = 1 xα−1(1 − x)β−1 B(α,β) for x between 0 and 1 inclusive. The pdf is zero outside of [0,1]. The B() in the denominator is the beta function, given by beta(a,b) in R. Write your own version of dbeta() using the beta pdf formula given above. Call your function mydbeta(). Your function can be simpler than dbeta(): use only three arguments (x, shape1,...
John and Mary visited 29 randomly selected Starbucks locations and recorded the number of cappuccinos sold...
John and Mary visited 29 randomly selected Starbucks locations and recorded the number of cappuccinos sold at each coffee shop on April 1st. They summarized the data in the following frequency distribution table: (Variable ,Frequency) (0, 2 ) (1, 5) ( 2, 8) (3, 10) (4, 4) (5, 2) a. For this scenario, identify the following: • Variable • Individual (Subject) • Sample • What percentage of Starbucks locations sold at least 3 cappuccinos? b. Calculate the sample mean. Note:...
1. The probability that a student has a Visa card (event V) is 0.30. The probability...
1. The probability that a student has a Visa card (event V) is 0.30. The probability that a student has a MasterCard (event M) is 0.40. The probability that a student has both cards is 0.12. (1) Find the probability that a student has either a Visa card or a MasterCard. (2) In this problem, are V and M independent? Why? 2. This is a contingency table describes 100 business students. Gender Major Female(F) Male(M) Accounting (A) 22 28 Economics(E)...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT