What is value-based bidding?

It’s a Smart Bidding strategy that relies on machine learning to deliver the highest target impression share possible, by bidding for conversions that drive business objectives.
It’s a Smart Bidding strategy that relies on machine learning to deliver the highest conversion value possible by bidding for conversions that drive business objectives.
It’s a Smart Bidding strategy that relies on machine learning to deliver the highest click-through rate possible, by bidding for conversions that drive business objectives.
It’s a Smart Bidding strategy that relies on machine learning to deliver the highest impressions possible, by bidding for conversions that drive business objectives.

The correct answer is:

It’s a Smart Bidding strategy that relies on machine learning to deliver the highest conversion value possible by bidding for conversions that drive business objectives.