Assume That There Are 9 Bidders with Reservation Prices Independently

question 40

Multiple Choice

Assume that there are 9 bidders with reservation prices independently and uniformly distributed between $100,000 and $180,000. What is the expected value of the highest reservation price of the nine potential buyers?

• A) $140,000
• B) $160,000
• C) $164,000
• D) $172,000
• E) $175,000

---

Definitions:

Assertive Communication

A communication style in which individuals express their own needs, desires, and opinions respectfully and directly.

Collaboration

The action of working with someone to produce or create something, often seen as a powerful way to achieve common goals.

Assertiveness

Acting in one’s own best interests by expressing one’s thoughts and feelings directly and honestly.

Assertive Communication

A style of communication in which individuals express their own needs, desires, ideas, and feelings in a clear, direct, and respectful way.