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step by step explanations with the formula used etc. EXAMPLE 7.5 Suppose you are searching for a low price on a price distribution that is

step by step explanations with the formula used etc.

EXAMPLE 7.5 Suppose you are searching for a low price on a price distribution that is uniform on the interval (1, 2). How will your acceptance price change if the cost of search rises from 0.05 to 0.10

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