The following exercise involves the allocation of two major items belonging to the late mother of Bill, Bob, Bruce, and Buddy. The division utilizes the Knaster procedure (sealed bids) and requires detailed calculations.| Item | Bill | Bob | Bruce | Buddy | Kitty ||-------------|-------|-------|--------|--------|-------|| **House** | $72,000 | $80,000 | $100,000 | $60,000 | || **Café** | $24,000 | $16,000 | $20,000 | $28,000 | || **House Award** | | | | | || **To Kitty** | | | | | $0 || **From Kitty** | | | | | || **Café Award** | | | | | || **To Kitty** | | | | | $0 || **From Kitty** | | | | | || **Divide Kitty**| | | | | || **Totals** | | | | | |**Instructions for Calculation:**1. **House Bids and Award:** - Each brother places a bid on the house: Bill ($72,000), Bob ($80,000), Bruce ($100,000), Buddy ($60,000). - Allocate the house to the highest bidder. - Calculate the compensation for other brothers and the contribution to the “Kitty”.2. **Café Bids and Award:** - Each brother places a bid on the café: Bill ($24,000), Bob ($16,000), Bruce ($20,000), Buddy ($28,000). - Allocate the café to the highest bidder. - Follow similar compensation adjustments as with the house.3. **Kitty Division:** - The Kitty is equally divided among all the brothers who did not take an item or need compensation for imbalance.4. **Final Totals:** - Calculate the financial totals each brother receives after item allocations and kitty division.**Additional Section for Calculations:**- The sheet allows space for detailed calculations necessary for the Knaster procedure.**Results Section:**- Determine the final

There are 4 bidders. For each item, the highest bidder gets the item and he/she pays the bid money…

The mom of Bill, Bob, Bruce and Buddy just passed away. She had two major items that must be split Detween tne boys. Use the Knaster procedure (sealed bids) to determine how these will be split. (Show all work and calculations) Item Bill Bob Bruce Buddy House $72,000 $80,000 $100,000 $60,000 Café $24,000 $16,000 $20,000 $28,000 Kitty House Award $0 To Kitty From Kitty Café Award To Kitty From Kitty $0 Divide Kitty Totals Any Calculations you must do should be shown below: Bob gets Results: Bill gets Buddy gets Bruce gets

The mom of Bill, Bob, Bruce and Buddy just passed away. She had two major items that must be split Detween tne boys. Use the Knaster procedure (sealed bids) to determine how these will be split. (Show all work and calculations) Item Bill Bob Bruce Buddy House $72,000 $80,000 $100,000 $60,000 Café $24,000 $16,000 $20,000 $28,000 Kitty House Award $0 To Kitty From Kitty Café Award To Kitty From Kitty $0 Divide Kitty Totals Any Calculations you must do should be shown below: Bob gets Results: Bill gets Buddy gets Bruce gets

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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