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 $10,000 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $10,000 and $15,000. if required, round your answers to two decimal places. a. suppose you bid $12,000. what is the probability that your bid will be accepted (to 2 decimals)?

P(bid accepted) = 0.4

Step-by-step explanation:

Defining the probability function of the competitor's bid as

for x between 10000 and 15000

We can calculate the probability that our bid of $12,000 is accepted as

answer: 40.95

step-by-step explanation:

(- 1, 0 )

step-by-step explanation:

an x- intercept is where the function crosses the x- axis.

to find the x- intercept/s look for the value of x when f(x) = 0

from the given table there are 3 values of x where f(x) = 0

when x = - 1, x = 2, x = 3

the one that is listed is (- 1, 0 )