When you use a flexible bid strategy, it will automatically optimize your bids based on:

When you use a flexible bid strategy, it will automatically optimize your bids based on:

• Your performance KPI (Key Performance Indicator)
• Your quality score
• Your search term data
• Your remarketing list

Correct answer is:

• Your performance KPI (Key Performance Indicator)

Explanation: Automated bidding takes the heavy lifting and guesswork out of setting bids to meet your performance goals. Each type of automated bid strategy is designed to help you achieve a specific goal for your business.

Read more here: https://support.google.com/adwords/answer/2979071