chrome File Edit View History Bookmarks Profiles Tab Window Help a\Chrome File Edit View History Bookmarks Profiles Tab Window Help Q Thu Feb 16 11:42 AM ... A Ch. 6: Continuous Probal X Question 4 - Chapter 9 + X ASU Semester at Sea Scholar X ASU McGraw-Hill Connect * *Course Hero x Homework Help - Q&A fr x + C webassign.net/web/Student/Assignment-Responses/tutorial?dep=30681342&tags=autosave#question4264976_1 Delta Airlines quotes a flight time of 3 hours, 4 minutes for a particular flight. Suppose we believe that actual flight times are uniformly distributed between 3 hours and 3 hours, 32 minutes. (a) Show the graph of the probability density function for flight time. f(x) f(x) f(x) 3 3 32 32 32 1 16 16 16 32 32 32 X X - X 172 180 188 196 204 212 172 180 188 196 204 212 172 180 188 196 204 212 Flight Time in Minutes Flight Time in Minutes Flight Time in Minutes O f(x) 32 16 32 FEB 16 189 77Chrome File Edit View History Bookmarks Profiles Tab Window Help Q Thu Feb 16 11:42 AM ... A Ch. 6: Continuous Probal X Question 4 - Chapter 9 + X ASU Semester at Sea Scholar X ASU McGraw-Hill Connect * *Course Hero x Homework Help - Q&A fr x + F -> C webassign.net/web/Student/Assignment-Responses/tutorial?dep=30681342&tags=autosave#question4264976_1 J(X) 32 1 16 32 172 180 188 196 204 212 Flight Time in Minutes O (b) What is the probability that the flight will be no more than 4 minutes late? (c) What is the probability that the flight will be more than 8 minutes late? (d) What is the expected flight time, in minutes? min Need Help? Read It 90 0 FEB 16 189 17chrome File Edit View History Bookmarks Profiles Tab Window Help 5', 2'. I" 4'.\" Q 9 A Thu Feb16 11142AM L O W' Ch. 6: Continuous Prob. X e Question4-Chapter9 x I la: Semesterat Sea Schola X Isl McGraw-Hill Connect X l u Course Hero x I u Homework Help-Q&Al X l + v C i webassign.net/web/Student/AssignmentResponses/lutorial?dep:3068'l342&lags=autosave#question4264976_'l [I] '1} It U 8 5 PREVIOUS ANSWERS ASWSBE14 6.E.007. ASK YOUR TEACHER PRACTICE ANOTHER 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 $15,000 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $15,000 and $20,000. 4. [2.08/12.5 Points] (a) Suppose you bid $17,000. What is the probability that your bid will be accepted? :3 (b) Suppose you bid $19,000. What is the probability that your bid will be accepted? 0.08 x (c) What amount should you bid in dollars to maximize the probability that you get the property? $:l (d) Suppose you know someone who is willing to pay you $21,000 for the property. What is the expected prot in dollars if you bid the amount given in part (c)? $ Find a bid in dollars which produces a greater expected prot than bidding the amount given in part (c). (If an answer does not exist, enter DNE.) $ Would you consider bidding less than the amount in part (c)? Why or why not? 0 Yes. There is a bid which gives a greater expected profit than the bid given in part (c), and thus a higher expected profit is possible with a bid smaller than the amount in part (c). O No. The bid which maximizes the expected prot is the amount given in part (c), thus it does not make sense to place a smaller bid. Need Help? _' ' \"..m;\" WQQE$GWI3 chrome File Edit View History Bookmarks Profiles Tab Window Help a\Chrome File Edit View History Bookmarks Profiles Tab Window Help Q Thu Feb 16 11:42 AM ... A Ch. 6: Continuous Probal X Question 4 - Chapter 9 | X ASU Semester at Sea Scholar X ASU McGraw-Hill Connect * *Course Hero x Homework Help - Q&A fr x + - C webassign.net/web/Student/Assignment-Responses/tutorial?dep=30681342&tags=autosave#question4264976_1 Step 2 To find P(-1.97