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Two player . Jack and Jill, are put in separate rooms. Then each is told the rules of the game. Each is to pick one of six letters; G, K, L, Q, R, or W. If the two happen to choose the same letter, both get prizes as follows:
Letter
G
K
L
Q
R
W
Jack's prize
3
2
6
4
5
Jill's prize
1
If they choose different letters, each gets 0. This whole schedule is re vealed to both players, and both are told that both know the schedules, and so on.
(a) Draw the table for this game. What are the Nash equilibria in pure strategies?
(b) Can one of the equilibria be a focal point? Which one? Why?
Suppose a sample of 200 drivers under the age of 18 results in 150 who still use a cell phone while driving. What is the value of the test statistic? What is the p-value? (Negative values should be indicated by a minus sign.
Formulate problem as a two-person, zero-sum game and use the concept of dominated strategies to determine the best strategy for each side.
What is the value of the sample proportion p who so they are satisfied with the total cost they pay for their health care? Explain in words what the population parameter p is in this setting.
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:
you a real-estate developer own a piece of land in nassau bahamas next to an equal size piece of land owned by a
Which firm produces more in equilibrium? How do the quantities produced in equilibrium change if Firm 1 improves its technology, leading to a slightly lower
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
Review the scholarly literature on the relationship between theory and research and the ways research (quantitative and qualitative) can contribute to theory.
Suppose the maximum risk value for a particular client is 0.4. What is the optimal allocation of investment funds among stocks, bonds, mutual funds and cash? What is the annual rate of return and the total risk for the optimal portfolio?
Construct a 3x3 game in which there are two Nash equilibria in pure strategies and the vector of payoffs in both is "worse" than some other vector of payoffs in the game.
a consider the same game as in question above but suppose t is not known.instead we know that the game continues with
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.
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