Same answer set for each question

Data File: Stadium Expansion v7.xlsx A national sports team plans to expand their stadium. The team asks construction companies to send their bids for the expansion project and chooses the minimum one as the winning bid. The data analysts of the team constructed a spreadsheet model to better understand the effects of random factors on the winning bid. Then, they ran a Monte Carlo simulation study with 1000 trials. The above Excel file presents the results of their Monte Carlo simulation. Winning bid values are given in $Million. The analysts would like to estimate the probability that the winning bid (strictly) exceeds $20.5 million and also construct a confidence interval with 99% confidence level for this probability, based on these simulation results. Answer the following questions to help them. a) What is the unbiased estimator () for the probability that the analysts would like to estimate. Submit your answers using the drop-down menus given below. b) What is the lower bound of the confidence interval that the analysts would like to construct. Submit your answers using the drop-down menus given below. c) What is the upper bound of the confidence interval that the analysts would like to construct. Submit your answers using the drop-down menus given below. Part a) [Choose ] 0.615 0.591 Part b) 0.571 0.531 0.557 Part c) 0.611 0.555 0.543 0.541 Data File: Stadium Expansion v7.xlsx A national sports team plans to expand their stadium. The team asks construction companies to send their bids for the expansion project and chooses the minimum one as the winning bid. The data analysts of the team constructed a spreadsheet model to better understand the effects of random factors on the winning bid. Then, they ran a Monte Carlo simulation study with 1000 trials. The above Excel file presents the results of their Monte Carlo simulation. Winning bid values are given in $Million. The analysts would like to estimate the probability that the winning bid (strictly) exceeds $20.5 million and also construct a confidence interval with 99% confidence level for this probability, based on these simulation results. Answer the following questions to help them. a) What is the unbiased estimator () for the probability that the analysts would like to estimate. Submit your answers using the drop-down menus given below. b) What is the lower bound of the confidence interval that the analysts would like to construct. Submit your answers using the drop-down menus given below. c) What is the upper bound of the confidence interval that the analysts would like to construct. Submit your answers using the drop-down menus given below. Part a) [Choose ] 0.615 0.591 Part b) 0.571 0.531 0.557 Part c) 0.611 0.555 0.543 0.541