Consider the Given Discrete Probability Distribution $P ( x > 3 )$

question 12

Multiple Choice

Consider the given discrete probability distribution. Find $P ( x > 3 )$ $$\begin{array} { | c | c | c | c | c | c | } \hline x & 1 & 2 & 3 & 4 & 5 \\\hline p ( x ) & .1 & .2 & .2 & .3 & .2 \\\hline\end{array}$$

• A) .2
• B) .7
• C) .5
• D) .3

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Definitions:

Bidders

Individuals or entities that offer a price for goods, services, or assets in an auction or tender process.

Bid-rigging

A form of fraud where competitors collude to inflate prices in procurement bids, undermining fair competition.

Cartels

Associations of independent businesses or organizations that agree to regulate production, pricing, and marketing of goods to maximize profits.

Winning Bids

Offers in an auction that outmatch all others, securing the auctioned item or service for the bidder.