Explanation Given: The payoff matrix is given by, [ 1 − 4 2 2 1 − 1 2 − 2 0 ] The strategy P and Q are given by, P = [ .2 .3 .5 ] Q = [ .6 .2 .2 ] Approach: The expected payoff of each game is given by, E = P A Q Here, E is the expected payoff E of each game, A is the payoff matrix, and P and Q are strategies. Calculation: Write the expression to calculate the expected payoff of each game. E = P A Q Substitute [ 1 − 4 2 2 1 − 1 2 − 2 0 ] for A , [ .2

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Author: Tan

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Chapter 9.5, Problem 6E

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The expected payoff E of the game.

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Chapter 9 Solutions

EBK FINITE MATHEMATICS FOR THE MANAGERI

Ch. 9.1 - What is a finite stochastic process? What can you...Ch. 9.1 - Prob. 2CQ Ch. 9.1 - Consider a transition matrix T for a Markov chain...Ch. 9.1 - Prob. 1E Ch. 9.1 - Prob. 2E Ch. 9.1 - Prob. 3E Ch. 9.1 - Prob. 4E Ch. 9.1 - Prob. 5E Ch. 9.1 - Prob. 6E Ch. 9.1 - Prob. 7E

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The expected payoff E of the game.

Solution Summary: The author explains how the expected payoff of each game is given by E=PAQ.

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To find:

The expected payoff E of the game.