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6. You are at an antique market in India deciding whether or not to purchase an antique vase. The vase was appraised by many experts whose opinions differ from each other. But you know that the true value of the vase is equally likely to be any amount between $ 6000 and $10,000. You also know that if you can bring this vase to the American market, the value will increase 3 times because of recent enthusiasm about oriental antique items. The seller will sell if you offer $10,000, but will reject your offer if you only offer $ 6000. a) What is the probability that a bid of $7000 is accepted? (6 points) b) If your bid of $7000 is accepted by the seller, what is the expected payoff to you? (assuming that you are risk-neutral)? (8 points) 6. You are at an antique market in India deciding whether or not to purchase an antique vase. The vase was appraised by many experts whose opinions differ from each other. But you know that the true value of the vase is equally likely to be any amount between $ 6000 and $10,000. You also know that if you can bring this vase to the American market, the value will increase 3 times because of recent enthusiasm about oriental antique items. The seller will sell if you offer $10,000, but will reject your offer if you only offer $ 6000. a) What is the probability that a bid of $7000 is accepted? (6 points) b) If your bid of $7000 is accepted by the seller, what is the expected payoff to you? (assuming that you are risk-neutral)? (8 points)