a.Discuss five assumptions of game theory b.Explain three steps required to find a saddle point
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a.Discuss five assumptions of game theory
b.Explain three steps required to find a saddle point
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- Question The craft vendors in Grand Anse, St. George's, Grenada are to be relocated into one large mega-craft market that can hold the majority of vendors. The idea is that the several locations are too dispersed and cause friction when cruise ship visitors and all-inclusive guests are to be entertained. There is a great deal of controversy about the optimal location. The Minister of Tourism commissioned a study and four competing locations were examined. The data in the payoff table shows the possible value of revenue ($000) to the different locations per week under three scenarios. Future Growth Conditions Mall Site Stable Moderate High 1 2,500 2,500 2,510 2 2,430 2,510 2,710 3 1,140 2,100 3,200 4 1,460 2,180 3,050 (a) What is the expected value of perfect information (EVPI)?a) Consider the following game matrix: 7 6. 9 - 4 -3 6. 10 A = 3 4 2 10 - 2 i) Determine the optimal mixed strategies. ii) Does the game have a saddle point? If so, give the value of the game and interpret it 6 ㅇ5DECISION TREE ANALYSIS... YOU CAN USE A PEN AND PAPER, AND UPLOAD YOUR ANSWER. ALSO DRAW THE DECISION TREE
- A study investigates the effects of a Method's course and sex of student on willingness to believe in ESP ten years after college. This study has: two independent variables two dependent variables O two cells in its design two possible interactions to evaluateAnswer the following questions based on the Strategy Region graph given below. When probability of high settlement is 12% and the probability of medium settlement is 40%, what is the optimal strategy? When probability of medium settlement is 20%, what is the highest probability of high settlement so that the Accept strategy to be optimal?The game matrix table, which is arranged in terms of company A, showing the advertising strategies of companies A and B is given. By finding the balance point of the game; 1-) find the balance pair of the game (A............, B...............) 2-) find the game value NOTE: Write each player's strategy number for the balance pair in numbers using one of the (1,2,3) values.
- 15 For the given Bayesian Game, determine the average payoff for a hardworking (H) teacher for Interested (I) type of students with strategy Not Study (NS) and Not Interested (NI) type of students with strategy Study (S), i.e. Teacher's payoff for strategy (H,(NS,S)). Player-1: Teacher, Player-2: Student Student may be of two categories: INTERESTED (I) or NOT INTERESTED (NH) with probability 1/2. Action of Teacher: Hard work (H/ Laty (L) Action of Student: Study (S)/ Not Study (NS) Game Table: P(I)=1/2 Teacher\ Student NS H. 10,10 0,0 L 5,5 5,0 P(NI)=1/2 Teacher\ Student S NS 5,5 0,5 10,5 5,10Question The craft vendors in Grand Anse, St. George's, Grenada are to be relocated into one large mega-craft market that can hold the majority of vendors. The idea is that the several locations are too dispersed and cause friction when cruise ship visitors and all-inclusive guests are to be entertained. There is a great deal of controversy about the optimal location. The Minister of Tourism commissioned a study and four competing locations were examined. The data in the payoff table shows the possible value of revenue ($000) to the different locations per week under three scenarios. Future Growth Conditions Mall Site Stable Moderate High 1 2,500 2,500 2,510 2 2,430 2,510 2,710 3 1,140 2,100 3,200 4 1,460 2,180 3,050 Which site would be selected if the decision makers used the: (a) LaPlace criterion? (b) Maximin criterion? (c) Maximax criterion?The Navy uses a certain type of vacuum tube in a sonar scanning device. Based on past experience, the vacuum tube exhibits the following failure pattern: Number of Months of Operation Probability of Failure1 0.12 0.13 0.24 0.15 0.36 0.2 Failures during operation cost $200 each, but the tube can be replaced before failure for $50. Find the optimal replacement strategy.
- Subject: Discrete Structures Question: You plan to invade Taiwan but Taiwan has a defense army. 50% of the army will be defended when you attack via infantry. But normally the Taiwan army defense is at 40%. You usually attack by sending your infantry at 10%. What are the Taiwan's army's chancesb) Briefly explain the sense in which a Nash equilibrium corresponds to a "no regret outcome."13. (i) Reduce the following game by dominance and find the game value. Player B Player A I II III IIXO IV I 3 3 4 0 II 2 4 2 4 III 4240 IV 0 4 000 8
