Graph B should be correct
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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Answer:
Step-by-step explanation:
Let's simplify step-by-step.
−22−3+40+6y+7+3c
=−22+−3+40+6y+7+3c
Combine Like Terms:
=−22+−3+40+6y+7+3c
=(3c)+(6y)+(−22+−3+40+7)
=3c+6y+22
Answer:
=3c+6y+22
Answer: C
Step-by-step explanation:
Step-by-step explanation:
x=y
y=1/z^3
Now,
for equation,
x=y=1/z^3
