Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
GRAPHICAL METHOD
Graphical methods can be used in games with no saddle points and having pay off m X 2 or 2 X n matrix.The aim is to substitute a much simpler 2 X 2 matrix for the original m X 2 or 2 X m matrix.
Example:Establish the optimum strategies and the value of the game from the following payoff matrix game.
Draw two vertical axes and plot two payoffs corresponding to each of the five columns. The pay off numbers in the first row is plotted on Axis I and those in second rows on Axis II.
Thus the two pay off numbers 6 and 3 in the first column are shown respectively by point A on Axis I and point B on Axis II.Join the corresponding pay off numbers on Axis I and Axis II by straight lines.On the two intersecting lines at the very bottom, thicken them from below up to the point of intersection, i.e. utmost point on the boundary.The thick lines on the graph KT and LT meet at T
The two lines passing through T, identify the two critical moves of Y which combined with X, yield the following 2 X 2 matrix.
What are the Advantages of cost accounting: 1. Cost accounting as an aid to management: cost accounting helps the management in carrying out of its functions, planning, organ
Explain Management accounting Meaning & definition: Management accounting is comprises of two words, Management and accounting. It is the study of managerial aspect of the ac
STEPS OF DEVELOPING A COST ESTIMATING RELATIONSHIP Firmly speaking, a CER is not a quantitative method. It is a framework for using suitable quantitative methods to quantify a
interest rates
The significant functions of a treasury department are as given below: a) Setting up corporate financial goals Financial strategies and aim Treasury and financial po
Disadvantages of activity based costing 1) It is essentially not the panacea for all ills. 2) It absorbs a lot of resources. 3) Too much emphasis on customer viability c
Incremental budgeting This is used to describe an incremental cost approach to budgeting where the next period budget is based on the current year’s results plus an extra amou
What are the Principles of management accounting? 1. The procedures and methods to be followed for keeping and analyzing financial statements should have consistency. It enable
State the Opportunity cost The net selling price, rental value or transfer value which could be obtained at a point in time if a particular asset or group of the assets were to
Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd