Use Knaster's Method of Sealed Bids to determine the compensation. On WebWork, for Knaster's and...
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Accounting
Use Knaster's Method of Sealed Bids to determine the compensation. On WebWork, for Knaster's and Equitability procedure problems, please round your answers to 2 decimal places (to keep track of cents). The people and items involved are given in this table.
Items
Tobias
Lindsay
Cream
$225.00
$280.00
Top
$110.00
$115.00
Throughout this problem, round answers to two decimal places (cents). To fill in the first answer table, - Find each person's total bid on all items. - Compute each person's fair share. - Determine which items each person won. Record your answers in the checkboxes below the table. - Determine how much value each person got from the items they won. - Determine the first settlements (cashflows). How much does each person get or pay in cash? On these online homework sets, put a positive number if the person gets cash, and put a negative number if the person pays. For example, if Tobias needs to pay 67.89, then type -67.89 as the first settlement for Tobias.
Person
Tobias
Lindsay
Total Bids
Fair Shares
Items Won
See below
See below
Value of Items Won
First Settlement
Answer & Explanation
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