Suppose random variable X is equally like to be 1, 3, 5; while random variable Y is equally like to be 2, 4, 6. Let Z = X+Y. 1) How to simulate the random variable Z in excel? [Select] 2) what is the probability of getting Z=11? [Select] 3) what is the expected value of Z? [Select]

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Suppose random variable X is equally like to be 1, 3, 5; while
random variable Y is equally like to be 2, 4, 6. Let Z = X+Y.
1) How to simulate the random variable Z in excel?
[Select]
2) what is the probability of getting Z=11?
[Select]
3) what is the expected value of Z?
[Select]
SciTool is now bidding for another contract. From historical
data, there's a 20% chance that there are no other firms
bidding for the contract. We also know if there are competitors,
their bidding prices follow the following distribution.
Competitor's
bid price
<$1M
between between between
$1.1M
$1.6M
$2.1M
and
and
and
$1.4M
$1.9M
$2.4M
0.2
0.3
0.15
>$2.6M
probability 0.2
Suppose SciTool bids $2.0M. When there is competition, the
firm that has a lower bid price wins. What is the winning
probability of SciTool? [Select]
0.15
Transcribed Image Text:Suppose random variable X is equally like to be 1, 3, 5; while random variable Y is equally like to be 2, 4, 6. Let Z = X+Y. 1) How to simulate the random variable Z in excel? [Select] 2) what is the probability of getting Z=11? [Select] 3) what is the expected value of Z? [Select] SciTool is now bidding for another contract. From historical data, there's a 20% chance that there are no other firms bidding for the contract. We also know if there are competitors, their bidding prices follow the following distribution. Competitor's bid price <$1M between between between $1.1M $1.6M $2.1M and and and $1.4M $1.9M $2.4M 0.2 0.3 0.15 >$2.6M probability 0.2 Suppose SciTool bids $2.0M. When there is competition, the firm that has a lower bid price wins. What is the winning probability of SciTool? [Select] 0.15
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