Mathematics, 13.08.2021 01:30 myjavier
A building contractor is preparing a bid on a new construction project. Two other contractors will be submitting bids for the same project. Based on past bidding practices, bids from the other contractors can be described by the following probability distributions: Contractor Probability Distribution of Bid A Uniform probability distribution between $530,000 and $730,000 B Normal probability distribution with a mean bid of $630,000 and a standard deviation of $43,000 If required, round your answers to three decimal places. If the building contractor submits a bid of $670,000, what is the probability that the building contractor will obtain the bid
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A building contractor is preparing a bid on a new construction project. Two other contractors will b...
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