A class of 100 students is participating in an auction to see who gets a large jar

Question:

A class of 100 students is participating in an auction to see who gets a large jar of quarters. Each student has an unbiased estimate of the total value of the coins. If these estimates are drawn from the interval (0, C), where C is not known, and your own estimate is $ 50, how much should you bid?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: