1. The previous record of a contractor's bidding encounters against three competi- tors is: Bid Price of Competitors ($ milions) Job Contractor's Cost No. Estimate ($ millions) A 8 1 1.05 0.95 2 1.6 2.1 1.8 1.6 3 0.7 0.9 4 2.0 2.4 22 0.85 I Using Triedman's and Gates's model, determine the markup needed to optimize ex pected profit in the following cases, and comment on the results: a. Bidding against A, B, and in a new job with estimated total cost of $10,000. b. Bidding against A, B, and Cinmuw job with estimated total cost of $5,000,000, c. Comment on the impact of project size in (a) and (b) on the estimated optimum markup d. Bidding against six typical competitors with behavior close to that of com petitor B. fluuntains the following statements are rehtannandi athu 1. The previous record of a contractor's bidding encounters against three competi- tors is: Bid Price of Competitors ($ milions) Job Contractor's Cost No. Estimate ($ millions) A 8 1 1.05 0.95 2 1.6 2.1 1.8 1.6 3 0.7 0.9 4 2.0 2.4 22 0.85 I Using Triedman's and Gates's model, determine the markup needed to optimize ex pected profit in the following cases, and comment on the results: a. Bidding against A, B, and in a new job with estimated total cost of $10,000. b. Bidding against A, B, and Cinmuw job with estimated total cost of $5,000,000, c. Comment on the impact of project size in (a) and (b) on the estimated optimum markup d. Bidding against six typical competitors with behavior close to that of com petitor B. fluuntains the following statements are rehtannandi athu