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Suppose that at 45 you were the highest bidder for the

Question: Suppose that at $45, you were the highest bidder for the certificate auctioned off during the chapter demonstration. After winning the certificate, you determine that the least you would be willing to sell the certificate for is $75. The instructor offers to tell you truthfully how the thumbtack has landed before you make your call. What value would you assign to this information?

a. $25

b. $30

c. $55

d. You need more information to answer this question.

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Basic Statistics: Suppose that at 45 you were the highest bidder for the

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