What is the probability of obtaining an odd number when a fair six-sided die is rolled, P(odd number)?
a. P(odd number) = 3
b. P(odd number) =
c. P(odd number) =
d. P(odd number) =
Question 2
In a bidding model, once we have a bidding strategy that maximizes the expected profit, we should no longer consider the bidder's aversion to risk.
a. True
b. False
Indicate whether the statement is true or false