b. Find an estimate of p2, the true proportion of less-experienced bidders who fall prey to the P2 =(Type an integer or a decimal. Round to three decimal places as needed.) %3D
Percentage
A percentage is a number indicated as a fraction of 100. It is a dimensionless number often expressed using the symbol %.
Algebraic Expressions
In mathematics, an algebraic expression consists of constant(s), variable(s), and mathematical operators. It is made up of terms.
Numbers
Numbers are some measures used for counting. They can be compared one with another to know its position in the number line and determine which one is greater or lesser than the other.
Subtraction
Before we begin to understand the subtraction of algebraic expressions, we need to list out a few things that form the basis of algebra.
Addition
Before we begin to understand the addition of algebraic expressions, we need to list out a few things that form the basis of algebra.
![9.4.63
Question Help v
In auction bidding, the "winner's curse" is the phenomenon of the winning (or highest) bid price being above the expected value of the item being auctioned. A study was conducted to see if less-experienced bidders were more likely to be
impacted by the curse than super-experienced bidders. The study showed that of the 172 bids by super-experienced bidders, 24 winning bids were above the item's expected value, and of the bids by the 138 less-experienced bidders, 36 winning
bids were above the item's expected value. Complete parts a through d
a. Find an estimate of p, the true proportion of super-experienced bidders who fall prey to the winner's curse
P = 0.140 (Type an integer or a decimal. Round to three decimal places as needed.)
b. Find an estimate of p2, the true proportion of less-experienced bidders who fall prey to the winner's curse.
P2 = (Type an integer or a decimal. Round to three decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0dffadf4-6195-4ecd-8325-0f00263ddf75%2F5c4e92a0-35eb-4481-be95-f186794ab18c%2Fyqcx3qt_processed.jpeg&w=3840&q=75)
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