Read Section 11.3 in the textbook with specific focus on the LandShark Model in Figure 11.21.

Specifically for this problem, refer to the "Model" sheet in the "LandSharkModel.xlsx" file. Perform the following (be sure to not alter any other cells in the file):

1. Change "Land Shark Bid Amount" from to $1,300,000. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.
2. Change "Land Shark Bid Amount" back to $1,230,000. Change "Estimated Value" to $ 1,349,000. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.
3. Change "Estimated Value" back to $1,389,000. Modify Cell B5 so that only 2 or 3 bidders are possible. Repeatedly press function key F9 to generate new random numbers. What happens to the Return Distribution? Specifically explain the reason for the change.