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Question 9 1.5 pts Exhibit 6-10a. You are asked to bid on a first edition copy of Snedecor's Statistical Methods at an auction. You are

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Question 9 1.5 pts Exhibit 6-10a. You are asked to bid on a first edition copy of Snedecor's Statistical Methods at an auction. You are bidding for a friend and the friend gives you $11600 and tells you that if you win the item for her then you can keep whatever is left over and if you lose the auction then you simply return the $11600 to her. At the auction there is only one other bidder and you believe their bid for the item will be uniformly distributed between $2300 and $10100. The winner of the auction is the highest bidder and they pay the amount of the loser's bid (similar to eBay). [R] Refer to Exhibit 6-10a. If you submit a bid of $3960 what is the probability you will win the first edition copy of Snedecor's Statistical Methods? O 0.32318 O 0.21282 O 0.08832 O 0.42014 O 0.10533

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