Change "Land Shark Bid Amount" from to $1,300,000. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.Change "Land Shark Bid Amount" back to $1,230,000. Change "Estimated Value" to $ 1,349,000. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.Change "Estimated Value" back to $1,389,000. Modify Cell B5 so that only 2 or 3 bidders are possible. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.

O Parameters Return Distribution Estimated Value $1,389,000 900 Number of Bidders 800 Bid Index Bid Fraction Bid Amount 700 0.770 $1,069,530 0.719 $998,691 600 0.802 $1,113,978 500 0.866 $1,202,874 0.764 $1,061,196 0.891 $1,237,599 0.861 $1,195,929 300 0.827 200 Model 100 Land Shark Bid Amount $1,300,000 C Largest Competitor Bid $1,237,599 US Land Shark Win Auction? 000 'OrS 000'OZS 00o'Ots 000'09$ 000'085 000'065 $50,0 000'OLS 0OO OO T $ $120,000 $130,00 140,000 $ 150,000 000 09 TS $110, Land Shark Return $89,000 Simulation Trial Number of Bidders Bid 1 Bid 2 Bid 3 Bid 4 Bid 5 Bid 6 Bid 7 Bid 8 Win? Return Summary Statistics $1,069,530 $998,691 $1,113,978 $1,202,874 $1,061,196 $1,237,599 $1,195,929 $89,000 Count 1000 Bin Frequency $1,191,762 $1,057,029 $1,288,992 $1,132,035 $1,170,927 $1,223,709 $1,272,324 $89,000 Minimum Return $0 so 217 $1,155,648 $976,467 $1,220,931 $1,213,986 $89,000 Maximum Return $89,000 $10,000 $1,077,864 $1,201,485 $1,134,813 $1,227,876 $89,000 Mean Return $69,687 $20,000 $1,198,707 $1,243,155 $1,227,876 $89,000 Standard Deviation of Return $36,704 $30,000 $1,227,876 $1,232,043 $1,100,088 $89,000 $40,000 $1,208,430 $1,201,485 $1,233,432 $1,134,813 $1,084,809 $1,158,426 $1,077,864 $1,134,813 $89,000 P(Win Auction) 0.783 $50,000 $1,309,827 $1,294,548 $1,291,770 $1,050,084 $1,227,876 $1,116,756 $1,177,872 $1,073,697 O $0 Standard Error of Proportion 0.013 $60,000 $1,209,819 $1,237,599 $1,172,316 $1,116,756 $1,230,654 SO $89.000 $70,000 $1,272,324 $1,284,825 $1,309,827 $1,304,271 $926,463 $1,225,098 $ 1,312,605 $1,155,648 95% C.I. on Mean Return $67,409 $80,000 o o o o o o o o mo o ooo O O $1,187,595 $1,138,980 $1,243,155 $1,193,151 $89,000 $71,965 $90,000 $1,134,813 $1,125,090 $1,090,365 $1,136,202 S $89,000 $100,000 $1,148,703 $1,180,650 $1,050,084 $1,152,870 $1,263,990 $1,226,487 $1,232,043 $0 $89,000 0.757 $1 10,000 $1,265,379 $1,095,921 $1,279,269 $0 $89,000 95% C.I. on P(Win Auction) 0.809 $120,000 $1,088,976 $1,134,813 $1,230,654 $1,294,548 $1,090,365 $0 $89,000 $130,000 $1,095,921 $1,247,322 $1,309,827 $1,130,646 $1,100,088 $1,027,860 $1,286,214 SO SO $140,000 $1,132,035 $1,152,870 $1,208,430 $912,573 $1,159,815 $1,120,923 SO $89,000 $150,000 $1,290,381 $1,123,701 $1,193,151 $1,223,709 $1,197,318 $1,283,436 SO $89,000 $160,000 1,000 $1,050,084 $1,095,921 $1,133,424 $1,279,269 $1,227,876 $1,116,756 $1,029,249 $89,000