Four people went treasure hunting and found Captain Hook's Hook They decided to use the method of Sealed Bids to divide their new found wealth among themselves The bids are given in the table below Bidder A B C D Bid Amount 11200 12800 9600 6400 Who gets to keep the Hook How much money should the person who gets the Hook put into the Kitty What is the total amount of money the person who gets the Hook has to give to the other three people How much money does D get after everything is settled

Question: Four people went treasure hunting and found Captain Hook's Hook. They decided to use the method of Sealed Bids to divide their new found wealth

Four people went treasure hunting and found Captain Hook's Hook. They decided to use the method of Sealed Bids to divide their new found wealth among themselves. The bids are given in the table below:

Bidder	A	B	C	D
Bid Amount	11200	12800	9600	6400

Who gets to keep the Hook?
How much money should the person who gets the Hook put into the Kitty?
What is the total amount of money the person who gets the Hook has to give to the other three people?
How much money does D get after everything is settled?

Step by Step Solution

★★★★★

3.48 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To solve this problem using the method of Sealed Bids we need to determine the distribution of the i... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

I'm a management accountant at Emerald Office Supply, Inc., which manages and sells office supplies to various companies nationwide. Your manager is interested in lowering the company's carbon...

Use the method of Steepest Descent with TOL = 0.05 to approximate the solutions of the following nonlinear systems. a. b. ln(x21 + x22) sin(x1 x2) = ln 2 + ln , ex1x2 + cos (x1 x2) = 0. c. 3x21 ...

Use the method of Steepest Descent with TOL = 0.05 to approximate the solutions of the following nonlinear systems. a. 15x1 + x22 4x3 = 13, x21 + 10x2 x3 = 11, x32 25x3 = 22. b. 10x1 2x22 + x2 ...

How much money should be deposited each year for 12 years if you wish to withdraw $309 each year for five years, beginning at the end of the 14th year? Let i = 8% per year.

Hi. I'm asked to take this class for graduation but I don't know how to do any of this. Please help me! I'm already devastated with the whole concept and Finance is new to me. Idk what I'm doing in...

ENG 300 Critical Thinking-Assignments 518 15 / WHAT IS THE IDEAL SOCIETY? it's equally logical to assume that where you have an uninterrupted state of health you cannot fail to have pleasure....

There are two problems due this week (each worth 35 points) as follows. Case 5-1David L. Miller: Portrait of a White-Collar Criminal (page 144). In comprehensive paragraphs, answerrequirements 1?6....

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

The purpose of this assignment is to encourage and allow critical engagement with recent topics in the field of Not-for-Profit and Government Accounting and how these structures play out in our...

started realizing there are things that I need to do that are more important than gangbanging and wasting my life in the streets. Even though I felt stuck in it. Even though there were 10 dudes that...

The pendulum consists of the 3-kg slender rod and the 5-kg thin plate. Determine the location y of the center of mass G of the pendulum; then find the mass moment of inertia of the pendulum about an...

Suppose the price elasticity of demand for used cars is estimated to be 3. What does this mean? What will be the effect on the quantity demanded for used cars if the price rises by 10 percent?...

Exercise INSTITE The 31 May bank statement of Marlow Furniture has just arrived from First Bank To prepare the bank reconciliation, you gather the following data The 31 May bank balance is $19 209 82...

The Gallo Company uses a flexible budget and standard costs to aid planning and control of its machining manufacturing operations. Its costing system for manufacturing has two direct-cost categories...

As part of your audit of the Abba Company accounts payable function, your audit program includes a test of controls addressing the company policy requiring that all vouchers be properly approved. You...

In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ........... ? 2. At overtime rate ...........$ 44,200 3. Total...

In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ............ ? 2. At overtime rate .............$ 39,480 3. Total...

Waldo makes out a negotiable promissory note payable to the order of Grace. Grace indorses the note by writing on it Without recourse, Grace and transfers the note for value to Adam. Adam,in need of...

what is the answer Choose the best answer or response to each of the following items. Multiple Choice point Identify the description of an atom. neutrons in nucleus; protons and electrons in orbitals...

Four people ran for the mathematics department chair post. The votes were tallied in the following preference list. 12 11 9 7 Number of Voters Rank First Choice Second Choice Third Choice Fourth...

Please read the attached article and write a reflection/ a brief summary of the article including: - What is the purpose of this document? - What are the key arguments and supporting evidence?...

Question 1: Compare Wyatt's buffalo hunting approach to the approach used by the old-timers? Question 2: Why was Wyatt's approach superior? Question 3: connect the case to the competitive dimensions....

Random Walk Simulation 1. Consider the scene of limited two-dimensional space: a) In the 55 grid map shown in FIG 1, a miner starts working from the central red dot at time t=0 and moves one space...

Complete the following feedback form on the outdoor treasure hunting experience to provide teachers with insight into how the experience went from an observer's perspective. ? Case Study 2b - Finding...

1. 1.Discuss SHEINs key issues, competencies, problems and strategies. 2. Discuss SHEINs competitor(s). 3. Discuss the alternatives available to SHEIN. Which one would you choose and why? SHEIN VS....