No .of bidders No. of contracts Rel. freq
2 7 0.064815
3 20 0.185185
4 26 0.240741
5 16 0.148148
6 11 0.101852
7 9 0.083333
8 6 0.055556
9 8 0.074074
10 3 0.027778
11 2 0.018519
total 108 1
(a)+P(almost five bidders) is = P(es) +0.148148
= 0.064815 + P(2)+P(3) + P(4)+P(5)
= 0.638889
0.6389
*P(at least five bidders) is
P(as)
= P(5) + P(6) + - + P(11)
H
0.148148 + 0.101852 + - +0.018519
14 0.509259
0.5093
(b) P(5≤ X ≤ 10) is = P(5) + P(6) + P(0)
= 0·148148+
= 0.490741
0.4907
P(s > x < 10) is
= P(6) + P(+)+P(8) + P(9)
0.101852 + 0.074074
0.314815
0.3148.
The histogram is skewed to right and there do not appear any outliers.
Construction bidding is the process of submitting proposals bids to undertake or manage the implementation of a construction project. The process begins with estimating costs from engineering drawings and bills of materials.
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