Suppose we are interested in bidding on a piece of land and we know one other bidder is
interested. the seller announced that the highest bid in excess of $10,000 will be accepted.
assume that the competitor’s bid x is a random variable that is uniformly distributed
between $10,000 and $15,000.
a. suppose you bid $12,000. what is the probability that your bid will be accepted?
b. suppose you bid $14,000. what is the probability that your bid will be accepted?
c. what amount should you bid to maximize the probability that you get the
property?
d. suppose you know someone who is willing to pay you $16,000 for the property. would
you consider bidding less than the amount in part (c)? why or why not?

0.4,08,>15000, No

Step-by-step explanation:

Given that we  are interested in bidding on a piece of land and we know one other bidder is  interested. The seller announced that the highest bid in excess of $10,000 will be accepted.

Competitor Bid is U (10000,15000)

If your bid is more than competitors bid your bid will be accepted

a) Suppose you bid $12,000. What is the probability that your bid will be accepted

=

b) Suppose you bid $14,000. What is the probability that your bid will be accepted

=

c) amount should you bid to maximize the probability that you get the

property>15000 because the prob to get the bid is

d) Suppose you know someone who is willing to pay you $16,000 for the property. Would  you consider bidding less than the amount in part (c)? Why or why not

No.  Bid for 15000 will allow to win the bid and also get a profit of 1000 dollars by selling immediately.

distance covered by pamela in 9 l of fuel = 99km

let us apply unitary method here.

distance covered by pamela in 1 l of fuel =99/9 =11 km

now let us find distance covered by pamela if she has 12 l of fuel.

distance covered in 12 l = distance covered in 1 l of fuel * 12

we know that distance covered by here in 1 l is 11 km.

so distance covered in 12 l of fuel = 11*12 = 132 km.

none cuz there are no "following statements" regarding the question

step-by-step explanation: