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A government agency is putting a large projector out for low bid. Bids are expected from 10 different contractors and will have a normal distribution

A government agency is putting a large projector out for low bid. Bids are expected from 10 different contractors and will have a normal distribution with a mean of $3.5 mil and a standard deviation of $250,000. Devise and implement a sampling experiment for estimating the distribution of the minimum bid and expected value of the minimum bid. Business Analytics 2ed 978-0-321-99782-1

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