Bank promotion A town has only two banks, bank R band bank C , and both compete equally for the town’s business. Every week, each bank decides on the use of one, and only one, of the following means of promotion: TV, radio, newspaper. and mail. A market research firm provided the following payoff matrix, which indicates the percentage of market gain or loss for each choice of action by R and by C (we assume that any gain by R is a loss by C , and vice versa): C TV Radio Paper Mail R TV Radio Paper Mail 0 1 0 − 1 − 1 2 − 1 − 1 − 1 − 1 0 − 1 0 − 1 1 0 (A) Find optimal strategies for bank R and bank C . What is the value of the game? (B) What is the expected value of the game for R if bank R always chooses TV and bank C uses its optimal strategy? (C) What is the expected value of the game for R if bank C always chooses radio and bank R uses its optimal strategy? (D) What is the expected value of the game for R if both banks always use the newspaper?
Bank promotion A town has only two banks, bank R band bank C , and both compete equally for the town’s business. Every week, each bank decides on the use of one, and only one, of the following means of promotion: TV, radio, newspaper. and mail. A market research firm provided the following payoff matrix, which indicates the percentage of market gain or loss for each choice of action by R and by C (we assume that any gain by R is a loss by C , and vice versa): C TV Radio Paper Mail R TV Radio Paper Mail 0 1 0 − 1 − 1 2 − 1 − 1 − 1 − 1 0 − 1 0 − 1 1 0 (A) Find optimal strategies for bank R and bank C . What is the value of the game? (B) What is the expected value of the game for R if bank R always chooses TV and bank C uses its optimal strategy? (C) What is the expected value of the game for R if bank C always chooses radio and bank R uses its optimal strategy? (D) What is the expected value of the game for R if both banks always use the newspaper?
Solution Summary: The author calculates the optimum strategies and the value of the game for banks R and C if both banks make exactly one choice for medium of promotion each week.
Bank promotion A town has only two banks, bank
R
band bank
C
, and both compete equally for the town’s business. Every week, each bank decides on the use of one, and only one, of the following means of promotion: TV, radio, newspaper. and mail. A market research firm provided the following payoff matrix, which indicates the percentage of market gain or loss for each choice of action by
R
and by
C
(we assume that any gain by
R
is a loss by
C
, and vice versa):
C
TV
Radio
Paper
Mail
R
TV
Radio
Paper
Mail
0
1
0
−
1
−
1
2
−
1
−
1
−
1
−
1
0
−
1
0
−
1
1
0
(A) Find optimal strategies for bank
R
and bank
C
. What is the value of the game?
(B) What is the expected value of the game for
R
if bank
R
always chooses TV and bank
C
uses its optimal strategy?
(C) What is the expected value of the game for
R
if bank
C
always chooses radio and bank
R
uses its optimal strategy?
(D) What is the expected value of the game for
R
if both banks always use the newspaper?
enter | Infinite Camp
ilc 8.3 End-of-Unit Assessment, Op x
Pride is the Devil - Google Drive x +
2 sdphiladelphia.ilclassroom.com/assignments/7FQ5923/lesson?card=806642
3
Problem 2
A successful music app tracked the number of song downloads each day for a month for 4 music artists, represented by lines l, j, m,
and d over the course of a month. Which line represents an artist whose downloads remained constant over the month?
Select the correct choice.
=
Sidebar
Tools
M
45
song downloads
days
d
1
2
3
4
5
6
7
8
00
8
m
l
RA
9
>
КУ
Fullscreen
G
Save & Exit
De
☆
Q/Determine the set of points at which
-
f(z) = 622 2≥ - 4i/z12
i
and
differentiable
analytice
is:
sy = f(x)
+
+
+
+
+
+
+
+
+
X
3
4
5
7
8
9
The function of shown in the figure is continuous on the closed interval [0, 9] and differentiable on the open
interval (0, 9). Which of the following points satisfies conclusions of both the Intermediate Value Theorem
and the Mean Value Theorem for f on the closed interval [0, 9] ?
(A
A
B
B
C
D
Chapter 11 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Introduction: MARKOV PROCESS And MARKOV CHAINS // Short Lecture // Linear Algebra; Author: AfterMath;https://www.youtube.com/watch?v=qK-PUTuUSpw;License: Standard Youtube License
Stochastic process and Markov Chain Model | Transition Probability Matrix (TPM); Author: Dr. Harish Garg;https://www.youtube.com/watch?v=sb4jo4P4ZLI;License: Standard YouTube License, CC-BY
