Question 1

The value of the following game is 2.5.Therefore,

Accepted Answer

A) X1 will gain 2.5 points. 
B) X2 will gain 2.5 points. 
C) X will gain 2.5 points. 
D) Y will gain 2.5 points. 
A) X1 will gain 2.5 points. 
B) X2 will gain 2.5 points. 
C) X will gain 2.5 points. 
D) Y will gain 2.5 points.

Question 2

In a competitive business market, one company's strategy might be to maximize its minimum profits.

Accepted Answer

A) True 
 B)False

Question 3

List at least two game theory applications.

Accepted Answer

war, negot

Question 4

Bagels RUS is expanding into a high-growth suburban area.To promote business and lure customers from the competing Wer Bagel store, they are considering offering a free dozen bagels to the first 50 customers or radio advertisement.The payoff for Bagels RUS is given in the table below.What is Bagels RUS' (X)best strategy?

Accepted Answer

A) X1 
B) X2 
C) Y1 
D) Y2 
A) X1 
B) X2 
C) Y1 
D) Y2

Question 5

The minimax criterion is to

Accepted Answer

A) minimize one's maximum losses. 
B) maximize one's maximum losses. 
C) maximize one's maximum gains. 
D) minimize one's minimum gains. 
A) minimize one's maximum losses. 
B) maximize one's maximum losses. 
C) maximize one's maximum gains. 
D) minimize one's minimum gains.

Question 6

The cornerstone of modern game theory includes the concepts developed by this person.

Accepted Answer

The answer of The cornerstone of modern game theory includes...

Question 7

Table M4-1
Adam and Eve each face three doors and must make a selection with payoffs as shown in the table.
  
-Which door should Eve choose?

Accepted Answer

A) Door 1 
B) Door 2 
C) Door 3 
D) She should not choose a door. 
A) Door 1 
B) Door 2 
C) Door 3 
D) She should not choose a door.

Question 8

Table M4-2
Vanderbilt's offensive coordinator can choose to run, pass or use one of their vaunted trick plays for each play they run.The defensive coordinator for Texas Tech can choose to blitz, play their base defense or use a prevent defense each time Vanderbilt calls a play.The payoffs for each of these strategy combinations are neatly displayed in the table.
  
-Which defense should Texas Tech choose according to the information in Table M4-2?

Accepted Answer

A) Blitz 
B) Base 
C) Prevent 
D) Trick Play 
A) Blitz 
B) Base 
C) Prevent 
D) Trick Play

Question 9

What is the value of the following two-person game?

Accepted Answer

This is a

Question 10

If the upper value of the game is larger than the lower value of the game, a saddle point condition exists.

Accepted Answer

A) True 
 B)False

Question 11

What is meant by the value of a mixed strategy game?

Accepted Answer

the average or expec

Question 12

The value of a mixed strategy game is

Accepted Answer

A) the maximum outcome of the game. 
B) the minimum outcome of the game. 
C) the outcome of the game played once. 
D) the average outcome of the game played an infinite number of times. 
A) the maximum outcome of the game. 
B) the minimum outcome of the game. 
C) the outcome of the game played once. 
D) the average outcome of the game played an infinite number of times.

Question 13

In a two-person, zero sum game

Accepted Answer

A) the sum of losses equals zero. 
B) the sum of gains equals zero. 
C) the sum of losses for one player must equal the sum of gains for the other player. 
D) the sum of the player's gains must be equal. 
A) the sum of losses equals zero. 
B) the sum of gains equals zero. 
C) the sum of losses for one player must equal the sum of gains for the other player. 
D) the sum of the player's gains must be equal.

Question 14

What is meant by a mixed strategy game?

Accepted Answer

a game in

Question 15

What is the value of the following two-person game?

Accepted Answer

The answer of What is the value of the following...

Question 16

Bagels RUS is expanding into a high-growth suburban area.To promote business and lure customers from the competing Wer Bagel store, they are considering offering a free dozen bagels to the first 50 customers or radio advertisement.The payoff for Bagels RUS is given in the table below.What is the saddle point, if any, for the bagel stores?

Accepted Answer

A) 3 
B) 6 
C) 2 
D) -2 
A) 3 
B) 6 
C) 2 
D) -2

Question 17

Dominance increases the size of games by allowing additional strategies to be considered.

Accepted Answer

A) True 
 B)False

Question 18

Considering the following two-person game, the value of the game (if played many times)is

Accepted Answer

A) 19.00. 
B) 4.75. 
C) 4.67. 
D) Unable to be computed, as the α was not given. 
A) 19.00. 
B) 4.75. 
C) 4.67. 
D) Unable to be computed, as the α was not given.

Question 19

The saddle point is always the largest number in the column and smallest number in each row of a payoff matrix.

Accepted Answer

A) True 
 B)False

Question 20

Given the following two-person game, what strategy should the players play?

Accepted Answer

This is a mixed strategy. 
6Q

The value of the following game is 2.5.Therefore,

In a competitive business market, one company's strategy might be to maximize its minimum profits.

List at least two game theory applications.

The minimax criterion is to

The cornerstone of modern game theory includes the concepts developed by this person.

Table M4-1 Adam and Eve each face three doors and must make a selection with payoffs as shown in the table. -Which door should Eve choose?

What is the value of the following two-person game?

If the upper value of the game is larger than the lower value of the game, a saddle point condition exists.

What is meant by the value of a mixed strategy game?

The value of a mixed strategy game is

In a two-person, zero sum game

What is meant by a mixed strategy game?

What is the value of the following two-person game?

Dominance increases the size of games by allowing additional strategies to be considered.

Considering the following two-person game, the value of the game (if played many times)is

The saddle point is always the largest number in the column and smallest number in each row of a payoff matrix.

Given the following two-person game, what strategy should the players play?

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

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Exam 19: Game Theory

The value of the following game is 2.5.Therefore,

In a competitive business market, one company's strategy might be to maximize its minimum profits.

List at least two game theory applications.

The minimax criterion is to

The cornerstone of modern game theory includes the concepts developed by this person.

Table M4-1 Adam and Eve each face three doors and must make a selection with payoffs as shown in the table. -Which door should Eve choose?

What is the value of the following two-person game?

If the upper value of the game is larger than the lower value of the game, a saddle point condition exists.

What is meant by the value of a mixed strategy game?

The value of a mixed strategy game is

In a two-person, zero sum game

What is meant by a mixed strategy game?

What is the value of the following two-person game?

Dominance increases the size of games by allowing additional strategies to be considered.

Considering the following two-person game, the value of the game (if played many times)is

The saddle point is always the largest number in the column and smallest number in each row of a payoff matrix.

Given the following two-person game, what strategy should the players play?

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

Filters