True or falsenbspnbspnbsp23nbspnbspnbspnbspin game theory

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Reference no: EM13365229

True or false 

  23.    In game theory, the player seeking to maximize the value of the game selects a maximax strategy.

a. True

b. False


Problem

    24.    Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?


Player B Strategies

Player A Strategies

b1

b2

b3

a1

5

5

4

a2

1

6

2

a3

7

2

3


However I do have the answers for the two questions I just need the steps 

 

Optimal pure strategies: Player A uses strategy a1; Player B uses strategy b3. Value of game: Gain of 4 for Player A; loss of 4 for Player B. 

    Optimal pure strategies: Player A uses strategy a1; Player B uses strategy b3. Value of game: Gain of 4 for Player A; loss of 4 for Player B.

 25.    Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?


Company Y Strategies

Company X Strategies

y1

y2

y3

x1

3

5

9

x2

8

4

3

x3

7

6

7

 

ANS:
Optimal pure strategies: Company X uses strategy 
x3; Company Y uses strategy y2. Value of game: Gain of 6 for Company X; loss of 6 for Company Y. 

Reference no: EM13365229

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