Question
You are the CFO of a solar energy company and are competing with one other company to win the project to build solar panels on
You are the CFO of a solar energy company and are competing with one other company to win the project to build solar panels on all campus buildings. campus has elected to use a blind bidding contest to determine who will win the project, suggesting the lowest bid below $12 million will win the project. You project your competitor's bid will be uniformly distributed between $4-12 million.
a) Draw this distribution and write out the probability function. b) What is the probability that your competitor's bid will be below $8 million?
c) What is the probability that your competitor's bid will be between $6-11 million?
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