At a classic car auction you are interested in a 1940 ford, Ask an Expert

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At a classic car auction, you are interested in a 1940 Ford Standard Tudor and decide to bid for the car. There is a $25,000 reserve for this car, which means highest bid in excess of $25,000 will win. Competitors' bids follow a uniform distribution and for this particular car, maximum bid expected is $55,000.What is the probability that the highest bid is $35,000 or less?

A. 0.55

B. 0.50

C.0.45

D, 0.33

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91021926

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