Question: Simulation question. Data Analytics Suppose you are bidding on a project which will cost $25,000 for you to complete. There are 6 competitors, and the

Simulation question. Data Analytics

Suppose you are bidding on a project which will cost $25,000 for you to complete. There are 6 competitors, and the number of bidders follow the distribution displayed on t a normal distribution with a mean of $50,000 and a standard deviation of $10,000. How much should you bid? Support your answer based on your results from your simulate Number Probability of bidders 0 0.0156 0.0938 2 0.2344 3 0.3125 0.2344 5 0.0938 6 0.0156

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