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1. Sun Resorts
Sun Resorts has a hotel on a Caribbean Island. It recently spent money to lobby the government to build a better airport and expand air service. Why did they do this? Do you think that Sun Resorts cares about how many airlines will serve the island? Explain.
2. The following game matrix shows the strategies and payoffs for Billy Corrigan and Eddie Vedder as they consider their concert schedule for Memorial Day. Each performer is headlining a national summer tour. The payoffs are in thousands of dollars.
Eddie Vedder's Strategy
Concert at Target Center
Concert in Chicago
Billy Corrigan's Strategy
Concert at Xcel Center
Billy gets $10
Billy gets $22
Eddie gets $19
Eddie gets $18
Billy gets $28
Eddie gets $34
Eddie gets $20
a. What is the dominant strategy, if any, for Billy Corrigan?
b. What is the dominant strategy, if any, for Eddie Vedder?
c. If there is a Nash equilibrium in the game, describe the Nash equilibrium or Nash equilibria.
Planning Parenthood, a national organization that assists teenage mothers with pregnancy, estimates that approximately 37% of the women coming into the center had contracted a sexually transmitted infection. They wish to plan a study to obtain a m..
Two players, Ben and Diana, can choose strategy X or Y. If both Ben and Diana choose strategy X, every earns a payoff of $1000.
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
A famous hypnotist performs to a crowd of 350 students and 180 non-students. The hypnotist knows from previous experience that one half of the students and two third on the non-students are hypnotizable. What is the probability that a randomly cho..
A manufacturer of a new, less expensive type of light bulb claims that this product is very well made and even more reliable than the higher priced competitive light bulbs.
What are the solutions to this game and how much is it worth to you to get your casino building permit first
Three students, Jim, Joan, and Jethroe are registered for the same class and attend independently to each other, Jim 95.7% of the time, Joan 92.3% of the time, and Jethroe 82.8% of the time. What is the probability that on any given day:
Test the hypothesis that random variable 30.4 31.2 30.8 29.9 30.4 30.7 29.9 30.1 come from a normal distribution with mean 30.5. The standard deviation of the measurements is known to be 0.1
Assume two competitors every face important strategic decisions where payoff to each decision depends upon reactions of the competitor. Company A can select either row in the payoff matrix defined below,
a) How many cars are red and have a sun roof, but do not have an automatic transmission? b) How many cars are not red, do not have an automatic transmission, and do not have a sun roof?
Construct a 95% confidence interval estimate for the population mean price for two movie tickets, with online service charges, large popcorn, and two medium soft drinks, assuming a normal distribution.
What is the mean of the sampling distribution of the difference between means?
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