Mathematics, 12.03.2020 16:47 heatherballiet866
You and three others are to place bids for an object, with the highest bid winning. If you win, you plan to immediately sell the object for 10 thousand dollars. How much should you bid to maximize your expected profit if you believe that the bids of the others can be regarded as being independent and uniformly distributed between 7 and 11 thousand dollars
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You and three others are to place bids for an object, with the highest bid winning. If you win, you...
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