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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]

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]

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.8: Probability
Problem 19E
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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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