Question: 6.16 Upon studying low bids for shipping contracts, a microcomputer manufacturing firm finds that intrastate contracts have low bids that are uniformly distributed between 20

6.16 Upon studying low bids for shipping contracts, a microcomputer manufacturing firm finds that intrastate contracts have low bids that are uniformly distributed between 20 and 25, in units of thousands of dollars.

a Find the probability that the low bid on the next intrastate shipping contract is below

$22,000.

a … c … d … b P(X 7 d ƒ X 7 c).

P(X 7 c)

b Find the probability that the low bid is in excess of $24,000.

c Find the average cost of low bids on contracts of this type.

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