19 MY NOTES ASK YOUR TEACHER Upon studying low bids for shipping contracts, a microcomputer manufacturing company finds that intrastate contracts have low bids that are uniformly distributed between 20 and 27, in units of thousands of dollars. (a) Find the probability that the low bid on the next intrastate shipping contract is below $23,000. (Round your answer to four decimal places.) (b) Find the probability that the low bid on the next intrastate shipping contract is in excess of $26,000. (Round your answer to four decimal places.)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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19
MY NOTES
ASK YOUR TEACHER
Upon studying low bids for shipping contracts, a microcomputer manufacturing company finds that intrastate contracts have low bids that are uniformly distributed between 20
and 27, in units of thousands of dollars.
(a) Find the probability that the low bid on the next intrastate shipping contract is below $23,000. (Round your answer to four decimal places.)
(b) Find the probability that the low bid on the next intrastate shipping contract is in excess of $26,000. (Round your answer to four decimal places.)
Transcribed Image Text:19 MY NOTES ASK YOUR TEACHER Upon studying low bids for shipping contracts, a microcomputer manufacturing company finds that intrastate contracts have low bids that are uniformly distributed between 20 and 27, in units of thousands of dollars. (a) Find the probability that the low bid on the next intrastate shipping contract is below $23,000. (Round your answer to four decimal places.) (b) Find the probability that the low bid on the next intrastate shipping contract is in excess of $26,000. (Round your answer to four decimal places.)
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