Question: On an online auction website, you bid for two items posted for sale. The probability you win the first bid is 0.7 and the probability

On an online auction website, you bid for two items posted for sale. The probability you win the first bid is 0.7 and the probability you win the second bid is 0.4. Assume that two events{winning the first bid}and{winning the second bid}are independent.

LetXbe the total number of items you win.

a) Construct the probability mass function ofX. (You can make a table, or just write outf(x) =..forx=..)

b) Verify thatf(x) from a) is a valid pmf.

c) Construct a cumulative distribution ofXfrom Problem 1 a) above. Remember to specify thexrange.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

A trust manager for a $100,000,000 stock portfolio wants to minimize short-term downside risk using Dow put options. The options expire in 60 days, have a strike price of 9,700, and a premium of $50....

Hello, I see you have an analysis for the case and there are many percentage statistics. You do not show any explanation or calculation on how you came up with those statistics though. Can you please...

Table of Contents Chapter 1 Introducing City of Smithville Welcome. 4 System Requirements 4 Licensing 5 Running or Removing City of Smithville Running the City of Smithville 5 Removing the City of...

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

You are watching two items posted for sale on eBay and bid $30 for the first and $20 for the second item. You estimate that you are going to win the first bid with probability 0.1 and the second bid...

1. You are watching two items posted for sale on eBay and bid $30 for the first and $20 for the second item. You estimate that you are going to win the first bid with probability 0.1 and the second...

6.12 Buying on eBay You are watching two items posted for sale on eBay and bid $30 for the first and $20 for the second item. You estimate that you are going to win the first bid with probability 0.1...

There are two problems due this week (each worth 35 points) as follows. Case 5-1David L. Miller: Portrait of a White-Collar Criminal (page 144). In comprehensive paragraphs, answerrequirements 1?6....

What source of competitive advantage does eBay have, and is that position supported by its resources and assets? 250 and over words in total CASE 13 players such as Yahoo and Amazon posed a major...

The presidents policy on domestic affairs received a 45% approval rating in a recent poll. The margin of error was given as 0.035. What sample size was used for this poll if we assume a 95%...

It is postulated that a static electric charge distribution gives rise to an electric field, described in spherical coordinates, of E a) Show that this a legitimate electric field. b Find the charge...

Find the roots by using the quadratic formula 2 x 2 4 x 3 = 0 2 x 2 4 x 3 = 0 a . x = 9 2 2 8 x = 8 9 2 2 b . x = 2 2 2 x = 2 2 2 c . x = 2 1 0 2 x = 2 2 1 0 d . x = 2 4 0 2 x = 2 2 4 0

Daniel Simmons arrived at the following tax information: Gross salary: $62,250 Dividend income $140 Itemized deductions: $7,000 Interest earnings $75 One personal exemption $4050 Adjustments to...

Create a decision table, flowchart, and algorithm for problem in Chapter. Problem Eureka Lumber Company gives a 2% discount if the remaining balance is paid within 10 days of purchase. Write a...

When 10 British Army soldiers on a 10-day training exercise descended into Low's Gully, a narrow chasm that cuts through Mt. Kinabalu in Borneo, each knew "the golden rule for such expeditions -...

In a cruise ship that is 1000 ft long and 300 ft wide, a 3-phase, 4160 V main feeder from the generator switchboard distributes 1200 kVA hotel load to 12 sectors fed by 1-phase, 100 kVA, 120 V...

Accounting A, B, C, D and E, all individuals, form X Corporation to engage in a manufacturing business. X issues 100 shares of common stock. A transfers $25,000 cash for 25 shares; B transfers...

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

=+c. Use arrows to demonstrate, on the timeline in part a, how discounting to find present value can be used to measure all cash flows at the beginning of the period (time zero).

=+P53 Future value You have $100 to invest. If you put the money into an account earning 5% interest compounded annually, how much money will you have in 10 years? How much money will you have in 10...

=+a. Find out the compound value in the account after (1) 2 years, (2) 6 years, and (3) 10 years.