What information does the Conversion Optimizer need in order to find the optimal cost-per-click (CPC) bid for an ad each time the ad is eligible to appear?

What information does the Conversion Optimizer need in order to find the optimal cost-per-click (CPC) bid for an ad each time the ad is eligible to appear?

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–What information does the Conversion Optimizer need in order to find the optimal cost-per-click (CPC) bid for an ad each time the ad is eligible to appear?– –Manual bid changes– —Historical conversion data— –Forecast data– –Test conversions–