2) Assume there are two bidders who are competing at a private-value auction, decided by a sealed bid, first price mechanism. Let v, and b, denote your valuation and bid and let v and by denote the valuation and bid of the other bidder. If you outbid your opponent (b> b)), your payoff is (vi-bi), otherwise zero. While your opponent's valuation is private information and unknown, you know that it is uniformly distributed between 0 and 1, thus F(v)=P(v
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- Lottery Powerball is a lottery game that is operated by the Multi-State Lottery Association and is played in 44 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. The game is played by drawing five white balls out of a drum of 69 white balls (numbered 1-69) and one red powerball out of a drum of 26 red balls (numbered 1-26). The jackpot is won by matching all five white balls in any order and the red powerball. (a) Find the possible number of winning Powerball numbers. (b) Find the possible number of winning Powerball numbers when you win the jackpot by matching all five white balls in order and the red powerball.7.The 11colleges of interest to a high school senior include that are expensive (tuition more than $20,000 per year), 4 that are far from home (more than 200 miles away), and 2that are both expensive and far from home. a. If the student decides to select a college that is not expensive and within 200 miles of home, how many selections are possible? b. If the student decides to attend a college that is not expensive and within 200 miles from home during his first two years of college, and then will transfer to a college that is not expensive but is far from home, how many selections of two colleges are possible?A large cable company reports the follwing: 80% of customers subscribe to cable TV service, 42% subscribe to Internet Service, 32% subscribe to telephone service, 25% of its customers subscribe to both cable tv and internet service, 21% of its customers subscribe to both cable tv and phone service, 23% of its customers subscribe to both Internet and phone service, and 15% of its customers subscribe to all three services. What is P(exactly two services)?
- Suppose that there is a proposal on campus involving the bus schedule, in which students were asked aboutwhether they wanted Saturday bus service and/or late-night bus service. 50% favored Saturday service,57% favored late-night service and 30% favored both. How many favored neither?consider there is a bag of marbles 23 are red,2 blue marbles,14 purple marbles and 14 green marbles. one marble is chosen at random from the bag. what is the probaility of getting a red marble or a blue marbleThe U.S. Department of Transportation reported that during November, 83.4% of Southwest Airlines' flights, 75.1% of US Airways' flights, and 70.1% of JetBlue's flights arrived on time (USA Today, January 4, 2007). Assume that this on - time performance is applicable for flights arriving at concourse A of the Rochester International Airport, and that 40% of the arrivals at concourse A are Southwest Airlines flights, 35% are US Airways flights, and 25% are JetBlue flights a)Suppose that an announcement is made saying that Flight 1424 will be arriving late. What is the most likely airline for this arrival? What is the least likely airline? b)Develop a joint probability table with three rows (airlines) and two columns (on-time arrivals vs. late arrivals). What is the highest probability and the lowest? c)An announcement has just been made that Flight 1424 will be arriving at gate 20 in concourse A. What is the most likely airline for this arrival? d)What is the probability that Flight…
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