Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

q1 - table 1 describes the bid history for some past auction on eBay. Bidder bid date stamp Bid type 1 B $41.00 1 Mar

image text in transcribed

q1 - table 1 describes the bid history for some past auction on eBay.

image text in transcribedimage text in transcribed
Bidder bid date stamp Bid type 1 B $41.00 1 Mar at 6:55:27am Don't have to specify this bid's type 2 C $40.00 29 Feb at 8:26:07pm 3 B $40.00 1 Mar at 6:55:14am 4 * $36.00 29 Feb at 8:26:07pm 5 $35.00 27 Feb at 9:26:26am 6 * 29 Feb at 8:26:00pm 7 27 Feb at 9:26:26am 8 C $33.00 29 Feb at 8:25:44pm 9 B 27 Feb at 9:26:26am 10 A $30.00 25 Feb at 8:47:21pm 11 Starting Price 24 Feb at 8:14:35pmQuestion 1 (15 points) Table 1 describes the bid history for some past auction on eBay. It includes the automatic bids made by eBay on behalf of the bidders. Note that some data are missing from the table. Assume that it is impossible for more than one bidder to place a bid in the same, exact second. For all the prices in that auction the bid increment is $1. 1. Complete the table by llingin the missing data (for \"bid type\" say Whether the bid is \"automatic\" or \"placed\") Note that the \"Bidder\" in rows 4 and 6 is the same. (These rows are marked with an *.) 2. Both B and C have a bid of $4000 but 0 is ranked \"above\" B (i.e., if the auction would stop at that price then 0 would be the winner). Why is it C and not B

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Mis

Authors: Kenneth Laudon

8th Edition

1292153776, 9781292153773

More Books

Students also viewed these Economics questions