Recall the Land Shark example within the chapter a Use ASP to apply simulation optimization to determine Land Sharks bid amount that would maximize its expected return on the upcoming auction b What is Land Sharks probability of winning the auction at the bid amount from part a

Question: Recall the Land Shark example within the chapter. a. Use ASP to apply simulation optimization to determine Land Sharks bid amount that would maximize its

Recall the Land Shark example within the chapter.
a. Use ASP to apply simulation optimization to determine Land Shark’s bid amount that would maximize its on the upcoming auction.
b. What is Land Shark’s probability of winning the auction at the bid amount from part a?

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