The formula to calculate the bid rate is:
\[ \text{BR} = \left( \frac{\text{BAS}}{\text{SP}} \right) \times 100 \]
Where:
Let's consider an example:
Using the formula to calculate the bid rate:
\[ \text{BR} = \left( \frac{5}{100} \right) \times 100 = 5\% \]
This demonstrates that a bid-ask spread of 5 with a sales price of 100 results in a bid rate of 5%. ✅
