Math 103:18 Post-class Assignment 10 second chances
There were two learning goals for the course that were associated with Post-class Assignment 10, and for which second chance problems are available, namely
32FairDistribution-LG5: You can ca
y out all steps of the method of sealed bids.
33FairDistribution-LG6: You can ca
y out all steps of the method of markers.
For each of the learning goals listed above, there is a new problem below associated with that learning goal. You can pick one learning goal on which you received a score of less than Mastered, and submit a solution to the new problem below that is associated with that learning goal. If you submit more than one solution, the first one will be graded, unless you make clear which one you wish to be graded.
In order to show mastery level understanding, you must show your work, i.e. you must show enough steps of your thought process to make it clear that you have understood the process of obtaining your answer.
32FairDistribution-LG5: The method of sealed bids.
Wendy, Xavier, Yolanda, and Zachary dissolve their business partnership and must ca
y out a fair distribution of 2 valuable items which they own jointly. They use the Method of Sealed Bids to make the distribution, and write out their bids as follows:
office
company ca
Wendy
$230,000
$25,000
Xavie
$250,000
$30,000
Yolanda
$260,000
$40,000
Zachary
$300,000
$20,000
a. Find the value of each player’s minimum fair share, in dollars.
. Ca
y out the allocation of the items, and the first settlement.
First settlement:
Items received (if any), and their value
$ initially paid to bank account
$ initially received from bank account
Wendy
Xavie
Yolanda
Zachary
c. Find the surplus after the first settlement is over, and how much of the surplus each player receives.
d. Ca
y out the final settlement (for each player, indicate the items received and net amount of cash paid or received as of the end of the process).
Final settlement:
Items received (if any), and their value
net $ paid to bank account after the surplus is distributed
net $ received from bank account after the surplus is distributed
Wendy
Xavie
Yolanda
Zachary
33FairDistribution-LG6: The method of markers.
Ann (A), Bob (B), Claire (C), and Dave (D) use the method of markers to divide a collection of 14 albums, labeled by letters M through Z. The a
angement of the albums, and the placement of the players’ markers, is as follows:
A1
C1
B2
C2
A2
A3
B3
C3
D1
B1
D2
D3
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
There are two different ways that the distribution of goods could take place in this example.
(a) Find one way the distribution could be done by answering the following questions:
· Which player receives his/her first minimum fair share, and which items are in it? Explain your reasoning.
· Which player receives his/her second minimum fair share, and which items are in it? Explain your reasoning.
· Which player receives his/her third minimum fair share, and which items are in it?
· Which player receives his/her fourth minimum fair share, and which items are in it?
· Which items are leftovers?
(b) Find a different way the distribution could be done:
· Which player receives his/her first minimum fair share, and which items are in it? Explain your reasoning.
· Which player receives his/her second minimum fair share, and which items are in it?
· Which player receives his/her third minimum fair share, and which items are in it?
· Which player receives his/her fourth minimum fair share, and which items are in it?
· Which items are leftovers?