Recall one of the very first decisions made in this class, when you were given the opportunity to win a 100% bonus at th

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Recall One Of The Very First Decisions Made In This Class When You Were Given The Opportunity To Win A 100 Bonus At Th 1 (65.91 KiB) Viewed 62 times

Recall one of the very first decisions made in this class, when you were given the opportunity to win a 100% bonus at the price of your own bid in percent; for example, if you bid 79% and it was the largest, you'd got a bonus of (100-79)%. Note that a really good decision, however, was very difficult due to the large number of class participants. Now suppose you were only two, and the other bid was completely random (i.e., uniformly distributed between 0% and 100%). What was the expected (sic!) bonus if you were to bid 79%? Round your answer to a single decimal in percent (e.g., for an expected bonus of 12.3%, enter 12.3). Your Answer: Answer