6.16 Upon studying low bids for shipping contracts, a microcomputer manufacturing firm finds that intrastate contracts have
Question:
6.16 Upon studying low bids for shipping contracts, a microcomputer manufacturing firm finds that intrastate contracts have low bids that are uniformly distributed between 20 and 25, in units of thousands of dollars.
a Find the probability that the low bid on the next intrastate shipping contract is below
$22,000.
a … c … d … b P(X 7 d ƒ X 7 c).
P(X 7 c)
b Find the probability that the low bid is in excess of $24,000.
c Find the average cost of low bids on contracts of this type.
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Related Book For
Probability And Statistics For Engineers
ISBN: 9781133006909
5th Edition
Authors: Richard L Scheaffer, Madhuri Mulekar, James T McClave, Cecie Starr
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