Mathematics, 18.05.2021 19:00 rosehayden21
A consultant knows that it will cost her $10,000 to fufill a particular contract. The contract is to be put out for bids. She knows that there are two other bidders beside herself. The bids of the other two bidders are independent and each of these bids is N(11,000, 4000 2). What is the probability that the lowest of the other two bids will be less than or equal to $10,000, the consultant's estimate of her own cost
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A consultant knows that it will cost her $10,000 to fufill a particular contract. The contract is to...
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