Which Two Random Variables Are Typically Simulated as Inputs in Bidding

question 71

Multiple Choice

Which two random variables are typically simulated as inputs in bidding models?

• A) number of bidding competitors and bid amount
• B) number of bidding competitors and bid profit
• C) individual bid amounts and net bidding profits
• D) mean number of bidding competitors and net bidding profit
• E) none of these choices

---

Definitions:

Deceptive Practices

Activities by individuals or businesses that mislead or lie to consumers, often regarding the nature or quality of a product or service.

Unfair Practices

Activities considered unethical or illegal, often related to business dealings, that can lead to consumer harm or market manipulation.

Discharged

Relieved from a legal duty, obligation, or liability, often in the context of debts or contractual obligations.

Bankruptcy

A legal proceeding involving a person or business that is unable to repay outstanding debts, resulting in the assets being used to pay creditors.