Answered: stochastic ordering

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The equilibrium in an infinitely repeated game is the Nash equilibrium. True or false?Explain
Consider the following game in extensive form. a В В В d f h i e (3, 2z) (9, 5) (6, 32) (2z, 19) (15, 7) (2, 20) (7, 32) Z=7 (a) How many pure strategy profiles exist in this game? (b) In the unique subgame perfect Nash equilibrium, what is the sum of the payoffs to the two players?
2. This year Karen has decided to diversify her business by growing broc- coli as well as lettuce. Karen plants lettuce with a probability of or broccoli with a probability of . By the time these plants are ready to harvest the price of lettuce increases with a probability of and decreases with a probability of 3. The price of broccoli increases with a probability of , decreases with a probability of or stays the same with a probability of . (a) Draw a probability tree for this scenario. (b) Use the probability tree to determine the probability that Karen plants broccoli and that the price of broccoli increases by the time it is ready to harvest. (c) Use the probability tree to determine the probability that the price of whatever Karen plants increases by the time it is ready to harvest. (d) Calculate Pr(Price of lettuce does not change | Karen plants lettuce). (e) Calculate Pr(Price of broccoli does not changen Karen plants broccoli).
#40 on the picture.
6
During registration at Tech every quarter, students in theDepartment of Management must have their coursesapproved by the departmental advisor. It takes the advisoran average of five minutes (exponentially distributed) toapprove each schedule, and students arrive at the adviser’s office at the rate of 10 per hour (Poisson distributed). Com-pute L, Lq, W, Wq, and . What do you think about this system? How would you change it?
Please answer the question in the file attached. I do not understand the concept, so please include as much detail as possible.
b) Briefly explain the sense in which a Nash equilibrium corresponds to a "no regret outcome."

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