The expected value of the outcome of the bid is $0.18
So let's start by counting how many bids are placed up to a total of 160.
100*160 = 16000.
What will be your arbitrary bid? As each bid has an equal chance of success, the average of all bids is used. (One cent plus 160 dollars) / 2 = 80 dollars (rounded)
Your odds of winning are 1/16000 (1 bid out of 16000).
If you win, your profit is 1920 ($2000 minus $80.00).
1920/16000 is $0.12
Your cost to enter the auction is $1, and your average winning offer is $0.12.
The result is $0.18 (0.12-1=-0.88).
Thus the expected value of the outcome of the bid is $0.18
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<em>A</em><em>N</em><em>S</em><em>W</em><em>E</em><em>R</em>
x＝24
Step-by-step explanation:
x＋180＋156＝360
180＋156＝336
x＋336＝360
x＝360-336
x＝24
Hi there!
x=8
<u><em>1.Subtract the answer with the 3 / subtract the terms:</em></u>
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<u><em>2.Divide the two terms:</em></u>
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Therefore, x=8
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Answer:
x=-16
Step-by-step explanation:
6x - 2y = 14
-7x + 2y = 2
Answer:
In geomentry
Step-by-step explanation:
A part of line that is bounded by two distinct end points ,and contains every point on the line between it's ends is known as line segment
