6.40 More eBay bidding For each of the following situa- tions, explain whether the binomial distribution applies for X a. You are bidding on four items available on eBay. You think that you will win the first bid with probability 25% and the second through fourth bids with probability 30%. Let X denote the number of winning bids out of the four items you bid on. b. You are bidding on four items available on eBay. Each bid is for $70, and you think there is a 25% chance of winning a bid, with bids being independent events. Let X be the total amount of money you pay for your winning bids.

6.40 More eBay bidding For each of the following situa- tions, explain whether the binomial distribution applies for X a. You are bidding on four items available on eBay. You think that you will win the first bid with probability 25% and the second through fourth bids with probability 30%. Let X denote the number of winning bids out of the four items you bid on. b. You are bidding on four items available on eBay. Each bid is for $70, and you think there is a 25% chance of winning a bid, with bids being independent events. Let X be the total amount of money you pay for your winning bids.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 9ECP: A random number generator selects two integers from 1 to 30. What is the probability that both...

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