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Many random number generators allow users to specify the range of the random numbers to be produced. Suppose that you specify that the random number Y can take any value between 0 and 2. Then the density curve of the outcomes has constant height between 0 and 2, and height 0 elsewhere.
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
p( 0.6 < Y < 1.1 ) p ( Y > or equal to 1)
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
There is 0.02% probability that a credit card holder of a company reports the loss or theft of the credit card each month. The company has 15,000 credit cards in Memphis. Use the Poisson distribution to answer the following questions.
A recent study by Ohio State University (March 5, 2008) suggests that students with cell phones may take more risks than students that do not have cell phones.
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
For what values of p is a 5-component system more likely to operate effectively than a 3-component system?
In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy.
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.
Consider the two-period repeated game in which this stage game is played twice and the repeated-game payos are simply the sum of the payos in each of the two periods.
Assume that the relationship between the growth of a fish population and the population size can be expressed as g = 2P - 0.1P, where g is the growth in tons and P is the size of the population (in thousands of tons).
Pertaining to the matrix need simple and short answers, Find (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.
Consider the following data for a simultaneous move ggiven: If you advertise and your rival advertises, you will each earn 5 million dollar in profits.
The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.
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