Assuming a uniform distribution of offers between $100,000 and $175,000,what would be the maximum expected price from nine potential buyers?

Question

Quizplus · Accepted Answer

The maximum expected price from nine potential buyers assuming a uniform distribution between $100,000 and $175,000 can be calculated using the formula (n+1)/(n*2)*max range. In this case, n=9 and max range= $75,000. Plugging in the values, we get (9+1)/(9*2)*$75,000 = $167,500. Therefore, the best choice is D.

Assuming a Uniform Distribution of Offers Between $100,000 and $175,000,what