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sleet_krkn [62]
3 years ago
9

What’s 3 devided by 63 in long divison

Mathematics
1 answer:
Ulleksa [173]3 years ago
4 0

hi! hope this helps!

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For example, the auctioneer has estimated that the likelihood that the second bidder will bid $2,000,000 is 90%. a) Use a decisi
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Answer:

See explanation to get answer.

Step-by-step explanation:

Solution

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Bidder 1 may bid on Monday either for $2,000,000 or $3,000,000 with probabilities 0.5 each

Therefore expected pay-off for Bidder 1 is $2,500,000 (2,000,000*.52 + 3,000,000*.5)

Bidder 2 may bid on Tuesday either for $2,000,000 with probability 0.9 or $4,000,000 with probability 0.1

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Bidder 3 may bid on Wednesday either for $1,000,000 with probability 0.7 or for $4,000,000 with probability 0.3

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Risk profile for the optimal solution is $2,000,000 with probability 0.5 and $3,000,000 with probability 0.5

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