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Late in the day at an auction house there are only two bidders left, April and Bart. The last item, a second-hand sound system in

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Late in the day at an auction house there are only two bidders left, April and Bart. The last item, a second-hand sound system in excellent condition, is brought out, and each biddertakes a look at it. The seller says she will accept sealed bids from each bidder and will sell the sound system tothe highest bidder at the highest bidder's bid. Each bidder believes thatthe other is equally likelyto value the sound system at any amount between $0 and $1100.00. Therefore, for any number, at, between $0 and $1100.00, each bidder believes that the probability that the other bidder values the sou nd system less than 3 is :c/ 1 100.00. The sound system is worth $1000.00 to April. If she gets the sound system, her profit will be the difference between $1000.00 and what she pays for it, and if she does not get the sound system, her protwill be zero. She wants to make her bid in a such a way as to maximize her expected prots. v lst attempt Part 1 (1 point) 0 See Hint Suppose that April thinks that Bart will bid exactly what the sound system is worth to him. If she bids $900.00, what will be her expected prot? $ (Give your answer to two decimals.)

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