a) Use dominance to reduce the number of strategies for either player. List the order of eliminated strategies. b) If the resulting matrix is 3x3 or larger, derive the LP equations for the game solution (both for row and column); do not solve. c) If the resulting matrix is Nx2 or 2XM use graphical method; if 2X2, use expected value method to solve the game.
a) Use dominance to reduce the number of strategies for either player. List the order of eliminated strategies. b) If the resulting matrix is 3x3 or larger, derive the LP equations for the game solution (both for row and column); do not solve. c) If the resulting matrix is Nx2 or 2XM use graphical method; if 2X2, use expected value method to solve the game.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Recent developments in a particular marketing district resulted in the determination of three areas: X, Y and Z.
The location of these areas and the number of customers expected in each per month are as follows:
Y
30.000
10 kı
X
35.000
15 km.
6 km.
Z
55.000
Two competing companies, D and E, are planning to establish operating branches in the district. The location
of the branch is confidential but a market research company provided both companies with the following
information:
If D is closer to an area, then it captures 85% of the business.
If E is closer to an area, D will get only 25% of the business.
If D and E open a branch at the same distance from the areas, then market will be shared 60:40 in favor of E.
Set up the payoff matrix with D as row.
a) Use dominance to reduce the number of strategies for either player. List the order of eliminated
strategies.
b) If the resulting matrix is 3x3 or larger, derive the LP equations for the game solution (both for row and
column); do not solve.
c) If the resulting matrix is Nx2 or 2XM use graphical method; if 2X2, use expected value method to solve
the game.
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