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

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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?


Definitions:

Communication Process Model

A theoretical framework that describes the steps involved in the successful transfer of information from sender to receiver.

Decoding

The process of interpreting and understanding communication signals or symbols.

Feedback

Information given to someone about their performance or work, intended to guide future improvements.

Communication Process Model

A theoretical framework that describes the various stages involved in the transmission and reception of messages between communicators.

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