Suppose We Have a 0-1 Output for Whether a Bidder

question 49

Multiple Choice

Suppose we have a 0-1 output for whether a bidder wins a contract in a bidding model (0=bidder does not win contract,and 1=bidder wins contract) .From the mean of this output,what can we determine?

• A)The mean number of bidders
• B)The average winning bid
• C)The probability that the bidder will win the contract
• D)The standard deviation of the next highest competitor's bid

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Definitions:

Extra-

A prefix meaning outside, beyond, or in addition to.

Inside

The inner part or space of something.

Inner

Pertaining to or situated on the inside; internal.

Insomnia

A common sleep disorder characterized by trouble falling asleep, staying asleep, or getting restful sleep.