The two random variables we typically simulate as inputs in bidding models are?
A) Number of bidding competitors and bid amount
B) Number of bidding competitors and bid profit
C) Individual bid amounts and net bidding profits
D) Mean number of bidding competitors and net bidding profit
E) None of these options

Question

Quizplus · Accepted Answer

The two random variables typically simulated as inputs in bidding models are the number of bidding competitors and bid amount. This helps in understanding the competition level and the potential profit from a specific bid amount.

The Two Random Variables We Typically Simulate as Inputs in Bidding