Answered: Determine whether the following games…

Determine whether the following games have saddle points. For games without a saddle point, using the simplex method to find the optimal strategies and the values of the games.

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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Question

Determine whether the following games have saddle points. For games without a saddle point,
using the simplex method to find the optimal strategies and the values of the games.

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Step 1: Analysis and Introduction

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Step 2: Examine the saddle point if any.

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Step 3: Convert the negative payoff's to positive.

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Step 4: Write the LP model for player 2.

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Step 5: Solve the LPP using Simplex Method.

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Step 6: Perform the iteration 1 of simplex method.

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Step 7: Perform the iteration 2 of simplex method.

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Step 8: Find the probability & value of the game on the optimal strategies.

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Solution

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