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How much are willing to pay for kelly blue book

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Reference no: EM132962926

Problem 1: Suppose you are in the market for a used Lexus and decide to visit your local dealership in Montreal. You know that the Kelly Blue Book value of the car you are thinking of buying between $14,000 and $19,000. If you believe the dealer knows as much about the car as you do, how much are you willing to pay? Assume that you care only about the expected value of the car you will buy and that the car values are symmetrically distributed.

A. $33,000
B. $19,000
C. $16,500
D.$14,000

Reference no: EM132962926

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