Question: From experience Mr. Harris has found that the low bid on a construction job can be regarded as a random variable having the uniform density

From experience Mr. Harris has found that the low bid on a construction job can be regarded as a random variable having the uniform density f (x) = 3 4C for 2C 3 < x < 2C 0 elsewhere whereC is his own estimate of the cost of the job. What percentage should Mr. Harris add to his cost estimate when submitting bids to maximize his expected profit?

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