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A) The bid that a competitor makes on a real estate property is estimated to be somewhere between 0 and 3 million dollars. Specifically, the bit X is viewed to be a continuous random variable with density function: Sc(9 - x) f(x) = 10, 0

A) The bid that a competitor makes on a real estate property is estimated to be somewhere between 0 and 3 million dollars. Specifically, the bit X is viewed to be a continuous random variable with density function: Sc(9 - x) f(x) = 10, 0

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A) The bid that a competitor makes on a real estate property is estimated to be somewhere between 0 and 3 million dollars. Specifically, the bit X is viewed to be a continuous random variable with density function: {c(9 - x²) f(x) = (0. 0<x<3 %3D otherwise 1- Find the value of c that makes f(x) a legitimate density function? 2- Find the expected value and standard deviation for the competitor's bid.
Transcribed Image Text:A) The bid that a competitor makes on a real estate property is estimated to be somewhere between 0 and 3 million dollars. Specifically, the bit X is viewed to be a continuous random variable with density function: {c(9 - x²) f(x) = (0. 0<x<3 %3D otherwise 1- Find the value of c that makes f(x) a legitimate density function? 2- Find the expected value and standard deviation for the competitor's bid.
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