Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
14th Edition
ISBN: 9780134677972
Author: Barnett
Publisher: PEARSON
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Textbook Question
Chapter 11.1, Problem 16E
In Problems 9-16, the matrix for a strictly determined game is given. Find the value of the game. Is the game fair?
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Students have asked these similar questions
If two perfectly rational players play the following zero-sum matrix
games, what strategies will they use?
5 4 3
(a)
0 6 1
4 7]
6
2 0
(b) |2 5
(c) |1
11
3
6 4
3
7
9
5
6.
Create a 3x3 payoff matrix for a two person zero sum game (cannot be scissors, paper, rock)
PROBLEM (7) Rock-Scissors-Paper game is a two player simultaneous move game where each player chooses R, S or P. It is a fact that Rock crushes Scissors, which cuts Paper which in turn covers Rock; so R beats S, S beats P and P beats R. Winner gets 1 point, loser gets 0 (if they both choose the same strategy; both gets 0). Fill a 3x3 game box with two players’ payoffs in this game and answer the following;
(a) Is there a dominant strategy for Player 1? Any dominated strategy? Answer the same for Player 2.(b) Is there a Nash Equilibrium in this game?(c) If player 1 plays first and then player 2 chooses her action, would you like to be player 1 or 2 in this sequential version of the game? Draw the game tree and describe the backward induction solution (sequential Nash equilibria) in this game.
PLEASE ANSWER ALL THE PARTS!
Chapter 11 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Ch. 11.1 - Suppose that a and k are both saddle values of the...Ch. 11.1 - Repeat Example 1 for the HDTV game matrix...Ch. 11.1 - Determine which of the matrix games below are...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 1-8, is the matrix game strictly...
Ch. 11.1 - In Problems 1-8, is the matrix game strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16 , the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - In Problems 9-16, the matrix for a strictly...Ch. 11.1 - Prob. 17ECh. 11.1 - Prob. 18ECh. 11.1 - Prob. 19ECh. 11.1 - Prob. 20ECh. 11.1 - Prob. 21ECh. 11.1 - Prob. 22ECh. 11.1 - Prob. 23ECh. 11.1 - Prob. 24ECh. 11.1 - Prob. 25ECh. 11.1 - Prob. 26ECh. 11.1 - Prob. 27ECh. 11.1 - Prob. 28ECh. 11.1 - Prob. 29ECh. 11.1 - Prob. 30ECh. 11.1 - Prob. 31ECh. 11.1 - Prob. 32ECh. 11.1 - For the matrix game of Problem 31, would you...Ch. 11.1 - For the matrix game of Problem 32, would you...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - In Problems 35-40, discuss the validity of each...Ch. 11.1 - Is there a value of m such that the following is...Ch. 11.1 - Prob. 42ECh. 11.1 - Price war a small town on a major highway has only...Ch. 11.1 - Investment Suppose that you want to invest $10,000...Ch. 11.1 - Store location two competitive pet shops want to...Ch. 11.1 - Store location Two competing auto parts companies...Ch. 11.2 - Let M=abcd (A) Show that if the row minima belong...Ch. 11.2 - (A) Using Theorem 4, give conditions on a,b,c, and...Ch. 11.2 - Solve the following version of the two-finger...Ch. 11.2 - Solve the matrix game: M=112324113Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 1-8, calculate the matrix product. (If...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - In Problems 9-18, which rows and columns of the...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - Solve the matrix games in Problems 19-32,...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - In Problems 33-38, discuss the validity of each...Ch. 11.2 - You R and a friend C are playing the following...Ch. 11.2 - You R and a friend C are playing the following...Ch. 11.2 - For M=abcdP=p1p2Q=q1q2 Show that PMQ=EP,QCh. 11.2 - Using the fundamental theorem of game theory,...Ch. 11.2 - Show non strictly that the determined solution...Ch. 11.2 - Show that if a 22 matrix game has a saddle value,...Ch. 11.2 - Explain how to construct a 22 matrix game M for...Ch. 11.2 - Explain how to construct a 22 matrix game M for...Ch. 11.2 - In Problems 47 and 48, derive the formulas of...Ch. 11.2 - In Problems 47 and 48, derive the formulas of...Ch. 11.2 - Bank promotion A town has only two banks, bank R...Ch. 11.2 - Viewer ratings A city has two competitive...Ch. 11.2 - Investment You have inherited $10,000 just prior...Ch. 11.2 - Corporate farming For a one-time play...Ch. 11.3 - Show that M=1132 is a strictly determined matrix...Ch. 11.3 - Solve the following matrix game using geometric...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 1-6, find the smallest integer k0 such...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - In problem 7-12, solve the matrix game using a...Ch. 11.3 - Is there a better way to solve the matrix game in...Ch. 11.3 - Is there a better way to solve the matrix game in...Ch. 11.3 - Explain why the value of a matrix game is positive...Ch. 11.3 - Explain why the value of a matrix game is negative...Ch. 11.3 - In Problem 17-20, discuss the validity of each...Ch. 11.3 - In Problem 17-20, discuss the validity of each...Ch. 11.3 - In Problem 17-20, discuss the validity of each...Ch. 11.3 - In Problem 17-20, discuss the validity of each...Ch. 11.3 - In Problems 21-24 remove recessive rows and...Ch. 11.3 - In Problems 21-24 remove recessive rows and...Ch. 11.3 - In Problems 21-24 remove recessive rows and...Ch. 11.3 - In Problems 21-24 remove recessive rows and...Ch. 11.3 - (A) Let P and Q be strategies for the 22 matrix...Ch. 11.3 - Use properties of matrix addition and...Ch. 11.3 - Solve the matrix games in problems 27-30 by using...Ch. 11.3 - Solve the matrix games in problems 27-30 by using...Ch. 11.3 - Solve the matrix games in problems 27-30 by using...Ch. 11.3 - Solve the matrix games in problems 27-30 by using...Ch. 11.4 - Outline a procedure for solving the 45 matrix game...Ch. 11.4 - Suppose that the investor in Example 1 wishes to...Ch. 11.4 - In Problems 1-4, solve each matrix game 140012Ch. 11.4 - In Problems 1-4, solve each matrix game. 112201Ch. 11.4 - In Problems 1-4, solve each matrix game. 012103230Ch. 11.4 - In Problems 1-4, solve each matrix game. 120012201Ch. 11.4 - In Problems 5-8, outline a procedure for solving...Ch. 11.4 - In Problems 5-8, outline a procedure for solving...Ch. 11.4 - In Problems 5-8, outline a procedure for solving...Ch. 11.4 - In Problems 5-8, outline a procedure for solving...Ch. 11.4 - Scissors, paper ,stone game This game is well...Ch. 11.4 - Player R has a $2, a $5,and a $10 bill. Player C...Ch. 11.4 - Headphone sales. A department store chain is about...Ch. 11.4 - Tour agency A tour agency organizes standard and...Ch. 11 - In Problems 1 and 2, is the matrix game strictly...Ch. 11 - In Problems 1 and 2, is the matrix game strictly...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - In Problems 3-8, determine the value V of the...Ch. 11 - Prob. 9RECh. 11 - Prob. 10RECh. 11 - Prob. 11RECh. 11 - Prob. 12RECh. 11 - Delete as many recessive rows and columns as...Ch. 11 - Problems 14-17 refer to the matrix game: M=2101...Ch. 11 - Problems 14-17 refer to the matrix game: M=2101...Ch. 11 - Problems 14-17 refer to the matrix game: M=2101...Ch. 11 - Problems 14-17 refer to the matrix game: M=2101...Ch. 11 - In Problems 18-21, discuss the validity of each...Ch. 11 - In Problems 18-21, discuss the validity of each...Ch. 11 - In Problems 18-21, discuss the validity of each...Ch. 11 - In Problems 18-21, discuss the validity of each...Ch. 11 - In Problems 22-26, solve each matrix game (first...Ch. 11 - In Problems 22-26, solve each matrix game (first...Ch. 11 - In Problems 22-26, solve each matrix game (first...Ch. 11 - In Problems 22-26, solve each matrix game (first...Ch. 11 - In Problems 22-26, solve each matrix game (first...Ch. 11 - Does every strictly determined 22 matrix game have...Ch. 11 - Does every strictly determined 33 matrix game have...Ch. 11 - Finger game Consider the following finger game...Ch. 11 - Refer to Problem 29. Use linear programming and a...Ch. 11 - Agriculture A farmer decides each spring whether...Ch. 11 - Agriculture Refer to Problem 31. Use formulas from...Ch. 11 - Advertising A small town has two competing grocery...Ch. 11 - Advertising Refer to Problem 33. Use linear...
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- Kiara and her friends are playing The Duck Game at a local fair. In this game, the player selects one of 50 identical plastic ducks from a pool. The bottom of each duck is numbered 1, 2, or 3. If you draw a duck with a 1, you win a small prize, a duck with a 2 will win you a medium prize, and a duck with a 3 will win a large prize. According to the game operator, there are 25 ducks with the number 1 on the bottom, 20 ducks with the number 2, and 5 ducks with the number 3. Use the information given to explore some of the mathematical concepts you have practiced so far by answering the questions below. Suppose that Kiara plays The Duck Game once. What is the probability that she draws a duck with the number 3 on the bottom? Explain the process you used to solve this question. Kiara draws a duck with a 1 on her first try and decides to play the game again. This time her friends Denny and Rayanna play the game with her. Each friend takes a turn drawing a duck from the pond. Once all…arrow_forwardd) Solve the following game for optimum strategies and the value of the game given the following matrix; Player A 18 6 11 7 Player B 4 6 4 2 13 7 5 17 3 6 12 2arrow_forwardWrite the payoff matrix for the given game, use Rachel as the row player. Two players, Rachel and Charlie, each have two cards. Rachel has one black card with the number 3 and one red card with the number 5. Charlie has a black card with a 6 written on it and a red card with a 1. They each select one of their cards and simultaneously show the cards. If the cards are the same color, Rachel gets, in dollars, the sum of the two numbers shown. If the cards are different colors, Charlie gets, in dollars, the difference of the two numbers shown.arrow_forward
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