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Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 43% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 39% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell expected to get 66% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 58% of the business. (a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.) Carlton Russell N F P = N F Is the game strictly determined? Yes No (b) Find the optimal strategy for both Russell (row) and Carlton (column). (Round your answers to three decimal places.)

Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 43% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 39% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell expected to get 66% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 58% of the business. (a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.) Carlton Russell N F P = N F Is the game strictly determined? Yes No (b) Find the optimal strategy for both Russell (row) and Carlton (column). (Round your answers to three decimal places.)

Advanced Engineering Mathematics
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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Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 43% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 39% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell is expected to get 66% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 58% of the business. (a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.) Carlton Russell N P = F Q= Is the game strictly determined? Yes No N (b) Find the optimal strategy for both Russell (row) and Carlton (column). (Round your answers to three decimal places.) F 00
Transcribed Image Text:Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 43% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 39% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell is expected to get 66% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 58% of the business. (a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.) Carlton Russell N P = F Q= Is the game strictly determined? Yes No N (b) Find the optimal strategy for both Russell (row) and Carlton (column). (Round your answers to three decimal places.) F 00
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