A seller is considering selling a vintage photograph at auction. There are 3 bidders, and the seller knows that their valuations are drawn from the uniform on[0,10][0,10]. The valuations are 1, 4 and 10 (but the seller does not know this).

Assume that the assumptions needed for revenue equivalence hold in this case.

For each field below, please input only a numerical answer in decimal form, rounded to at least 2 decimal places if rounding is needed. Do not input words or symbols (like $ or %) in your answer.

a)If the seller holds a first-price sealed bid auction, what is her expected revenue?

b) If the seller holds a first-price sealed bid auction, what will be her actual revenue?

c) If the seller holds a Japanese auction, what is her expected revenue?

d)If the seller holds a Japanese auction, what will be her actual revenue?