Business
Business, 05.04.2021 07:10, Natasha019

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Reading Assignment: Gross Domestic Product, Unemploy...
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A college education purchased by an individual is
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30
a
Consumption
Unemp...
mestic Prod...
b
Investment
30
mestic Product, Une...
Government
58
d
Net Exports
e
Not included

answer
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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 $9,500 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $9,500 and $15,500. suppose you bid $12,000. what is the probability that your bid will be accepted?
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