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I'm trying to solve this question: Suppose that Orion prices its bid at the mean of the uncertainty distribution of its competitors' low bid. The
I'm trying to solve this question: Suppose that Orion prices its bid at the mean of the uncertainty distribution of its competitors' low bid. The probability that Orion will win the contract is _____________. [Hint: Orion wins if its competitors' LowBid exceeds Orion's bid. What is the probability that this will happen?] The mean is 250,025.57 and standard deviation is 12,387.10, how do i calculate the probability??
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