(1 point) Use Knaster's Method of Sealed Bids to determine the compensation. On WebWork, for Knaster's and Equitability procedure problems, please round your answers to 2 decimal places (to keep track of cents). The people and items involved are given in this table. Items Tobias Lindsay Cream $195.00 $200.00 Top $130.00 $115.00 Throughout this problem, round answers to two decimal places (cents). To fill in the first answer table, , Find each person's total bid on all items. Compute each person's fair share. Determine which items each person won. Record your answers in the checkboxes below the table. Determine how much value each person got from the items they won. Determine the first settlements (cashflows). How much does each person get or pay in cash? On these online homework sets, put a positive number if the person gets cash, and put a negative number if the person pays. For example, if Tobias needs to pay 67.89, then type -67.89 as the first settlement for Tobias. Person Total Bids Fair shares Items Won Value of Items Won First Settlement Tobias See below Lindsay See below Select ALL items that Tobias won: A. Cream OB. Top C. None Select ALL items that Lindsay won: A. Cream OB. Top C. None What is the surplus? - Once you have the surplus, - Determine how much each person gets from the surplus. - Compute each person's final settlement (how much they get or pay in cash after the surplus is given to everyone). - Compute everyone's compensation. That is the value of items won plus the final settlement. Watch the signs on the final settlement! Person From surplus Final settlement Compensation Tobias Lindsay (1 point) Use Knaster's Method of Sealed Bids to determine the compensation. On WebWork, for Knaster's and Equitability procedure problems, please round your answers to 2 decimal places (to keep track of cents). The people and items involved are given in this table. Items Tobias Lindsay Cream $195.00 $200.00 Top $130.00 $115.00 Throughout this problem, round answers to two decimal places (cents). To fill in the first answer table, , Find each person's total bid on all items. Compute each person's fair share. Determine which items each person won. Record your answers in the checkboxes below the table. Determine how much value each person got from the items they won. Determine the first settlements (cashflows). How much does each person get or pay in cash? On these online homework sets, put a positive number if the person gets cash, and put a negative number if the person pays. For example, if Tobias needs to pay 67.89, then type -67.89 as the first settlement for Tobias. Person Total Bids Fair shares Items Won Value of Items Won First Settlement Tobias See below Lindsay See below Select ALL items that Tobias won: A. Cream OB. Top C. None Select ALL items that Lindsay won: A. Cream OB. Top C. None What is the surplus? - Once you have the surplus, - Determine how much each person gets from the surplus. - Compute each person's final settlement (how much they get or pay in cash after the surplus is given to everyone). - Compute everyone's compensation. That is the value of items won plus the final settlement. Watch the signs on the final settlement! Person From surplus Final settlement Compensation Tobias Lindsay
