A town has only two banks, R and C, and both compete about equally for the town's business. Each week each bank decides on the use of one of the following means of promotion: TV, radio, newspaper, and mail. A marketing research firm provided this payoff matrix, which indicates the percentage of market gain or loss for each choice of action by R and by C (we assume that any gain by R is a loss by C, and vice versa). Complete (A) through (D).

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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A town has only two banks, R and C, and both compete about equally for the town's
business. Each week each bank decides on the use of one of the following means
of promotion: TV, radio, newspaper, and mail. A marketing research firm provided this
payoff matrix, which indicates the percentage of market gain or loss for each choice of
action by R and by C (we assume that any gain by R is a loss by C, and vice versa).
Complete (A) through (D).
*
(A) Find the optimal strategy P
*
R
TV
Radio
Paper
Mail
TV
0
1
0
-3
C
Radio Paper Mail
- 1
- 1 O
4
- 1
- 1
-2
1
- 2
SOTNO
- 1
2
Transcribed Image Text:A town has only two banks, R and C, and both compete about equally for the town's business. Each week each bank decides on the use of one of the following means of promotion: TV, radio, newspaper, and mail. A marketing research firm provided this payoff matrix, which indicates the percentage of market gain or loss for each choice of action by R and by C (we assume that any gain by R is a loss by C, and vice versa). Complete (A) through (D). * (A) Find the optimal strategy P * R TV Radio Paper Mail TV 0 1 0 -3 C Radio Paper Mail - 1 - 1 O 4 - 1 - 1 -2 1 - 2 SOTNO - 1 2
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