Anna's Antiques Expects to Get Two Bidders for the Unique

question 12

Multiple Choice

Anna's Antiques expects to get two bidders for the unique china teacup it sells.Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability.If Anna receives $71 from the auction,she can infer that

• A)​Both the bidders were high value bidders
• B)Both the bidders were low value bidders
• C)One of the bidders was high value,while the other was low value
• D)​All of the above

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Definitions:

Internal Attribution

The process of attributing the cause of one's own or others' behavior to internal, personal characteristics rather than to external factors.

External Attribution

The process of attributing the cause of one's own or others' behavior to external factors or the situation, rather than to internal characteristics.

First-level Outcomes

Initial results or consequences of actions, often serving as indicators for further developments or achievements.

Expectancy Model

A psychological theory that explains motivation as a function of an individual's expectations about their ability to perform tasks and the expected outcomes of those tasks.