Carl decides to sell his old laptop on eBay, and sequentially receives bids from potential buyers. The minimum price that he will accept to sell his laptop for is $600. Let {Xn, n ≥ 0} denote the sequence of independent and identically distributed bids that Carl receives, and assume that each Xn has the following probability density function fX (x) = (1/400)e −x/400 for x ≥ 0. Let N denote the number of bids that Carl obtains before selling his laptop i.e., Carl sells his laptop to the Nth bid. (a) Find E[N]. (b)Find E[XN ].
Carl decides to sell his old laptop on eBay, and sequentially receives bids from potential buyers. The minimum price that he will accept to sell his laptop for is $600. Let {Xn, n ≥ 0} denote the sequence of independent and identically distributed bids that Carl receives, and assume that each Xn has the following probability density function fX (x) = (1/400)e −x/400 for x ≥ 0. Let N denote the number of bids that Carl obtains before selling his laptop i.e., Carl sells his laptop to the Nth bid. (a) Find E[N]. (b)Find E[XN ].
Carl decides to sell his old laptop on eBay, and sequentially receives bids from potential buyers. The minimum price that he will accept to sell his laptop for is $600. Let {Xn, n ≥ 0} denote the sequence of independent and identically distributed bids that Carl receives, and assume that each Xn has the following probability density function fX (x) = (1/400)e −x/400 for x ≥ 0. Let N denote the number of bids that Carl obtains before selling his laptop i.e., Carl sells his laptop to the Nth bid. (a) Find E[N]. (b)Find E[XN ].
Carl decides to sell his old laptop on eBay, and sequentially receives bids from potential buyers. The minimum price that he will accept to sell his laptop for is $600. Let {Xn, n ≥ 0} denote the sequence of independent and identically distributed bids that Carl receives, and assume that each Xn has the following probability density function
fX (x) = (1/400)e −x/400 for x ≥ 0.
Let N denote the number of bids that Carl obtains before selling his laptop i.e., Carl sells his laptop to the Nth bid.
(a) Find E[N].
(b)Find E[XN ].
Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.
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