Exam 19: Game Theory

CleanClothes dry cleaners is opening a pick-up and delivery service.There is only one other dry cleaner that currently offers this service.To advertise,CleanClothes is considering either newspaper ads or attaching flyers to the doors of many local homes.The payoff for each of CleanClothes' potential strategies is given in the table below.What strategy will CleanClothes (X)play? Y₁ (newspaper ads)Y₂ (flyers) X₁ (newspaper ads)52 37 X₂ (flyers)26 18

(Multiple Choice)

4.7/5

(28)

Question 21

Game theory is the study of

(Multiple Choice)

4.9/5

(35)

Question 22

Consider the following two-person game.The payoff for X is given in the table.X will always play strategy Y₁Y₂ X₁4 6 X₂1 -3

(Multiple Choice)

4.9/5

(32)

Question 23

Bagles 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 Wer Bagels' (Y)best strategy? Y₁Y₂ X₁3 6 X₂2 -2

(Multiple Choice)

4.9/5

(39)

Question 24

In a competitive business market,one company's strategy might be to minimize its potential losses.

(True/False)

4.9/5

(32)

Question 25

What is the value of the following two-person game? Y₁Y₂ X₁6 2 X₂-4 7

(Essay)

4.9/5

(23)

Question 26

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁6 -2 X₂-1 4

(Essay)

4.8/5

(34)

Question 27

Game theory has been used to plan warfare strategies.

(True/False)

4.7/5

(31)

Question 28

The upper value of the game is selected as the minimum of the maximum numbers in a column.

(True/False)

4.7/5

(38)

Question 29

The saddle point in a payoff matrix is always the

(Multiple Choice)

4.7/5

(31)

Question 30

Game theory is a way to consider the impact of games on business.

(True/False)

4.8/5

(35)

Question 31

Describe a two-person zero sum game.

(Essay)

4.8/5

(44)

Question 32

Game models are classified by the number of players,the maximum payoffs,and the likelihood of each outcome.

(True/False)

4.9/5

(39)

Question 33

Bagles 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? Y₁Y₂ X₁3 6 X₂2 -2

(Multiple Choice)

4.9/5

(32)

Question 34

Given the following two-person game,which strategy can be eliminated by use of dominance? Y₁Y₂ X₁13 9 X₂6 8 X_{3 12 14}

(Multiple Choice)

4.8/5

(38)

Question 35

What is meant by a mixed strategy game?

(Essay)

4.9/5

(39)

Question 36

In a two-person,zero sum game,

(Multiple Choice)

4.8/5

(37)

Question 37

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

(True/False)

4.7/5

(35)

Question 38

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁15 20 X₂8 4

(Essay)

4.8/5

(33)

Question 39

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁12 16 X₂14 8

(Essay)

4.9/5

(33)

Question 40

Showing 21 - 40 of 47

Game theory is the study of

Consider the following two-person game.The payoff for X is given in the table.X will always play strategy Y₁Y₂ X₁4 6 X₂1 -3

In a competitive business market,one company's strategy might be to minimize its potential losses.

What is the value of the following two-person game? Y₁Y₂ X₁6 2 X₂-4 7

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁6 -2 X₂-1 4

Game theory has been used to plan warfare strategies.

The upper value of the game is selected as the minimum of the maximum numbers in a column.

The saddle point in a payoff matrix is always the

Game theory is a way to consider the impact of games on business.

Describe a two-person zero sum game.

Game models are classified by the number of players,the maximum payoffs,and the likelihood of each outcome.

Given the following two-person game,which strategy can be eliminated by use of dominance? Y₁Y₂ X₁13 9 X₂6 8 X_{3 12 14}

What is meant by a mixed strategy game?

In a two-person,zero sum game,

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

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁15 20 X₂8 4

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁12 16 X₂14 8

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

Exam 19: Game Theory

Game theory is the study of

Consider the following two-person game.The payoff for X is given in the table.X will always play strategy Y1 Y2 X1 4 6 X2 1 -3

In a competitive business market,one company's strategy might be to minimize its potential losses.

What is the value of the following two-person game? Y1 Y2 X1 6 2 X2 -4 7

Given the following two-person game,what strategy should the players play? Y1 Y2 X1 6 -2 X2 -1 4

Game theory has been used to plan warfare strategies.

The upper value of the game is selected as the minimum of the maximum numbers in a column.

The saddle point in a payoff matrix is always the

Game theory is a way to consider the impact of games on business.

Describe a two-person zero sum game.

Game models are classified by the number of players,the maximum payoffs,and the likelihood of each outcome.

Given the following two-person game,which strategy can be eliminated by use of dominance? Y1 Y2 X1 13 9 X2 6 8 X3 12 14

What is meant by a mixed strategy game?

In a two-person,zero sum game,

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

Given the following two-person game,what strategy should the players play? Y1 Y2 X1 15 20 X2 8 4

Given the following two-person game,what strategy should the players play? Y1 Y2 X1 12 16 X2 14 8

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

Consider the following two-person game.The payoff for X is given in the table.X will always play strategy Y₁Y₂ X₁4 6 X₂1 -3

What is the value of the following two-person game? Y₁Y₂ X₁6 2 X₂-4 7

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁6 -2 X₂-1 4

Given the following two-person game,which strategy can be eliminated by use of dominance? Y₁Y₂ X₁13 9 X₂6 8 X_{3 12 14}

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁15 20 X₂8 4

Given the following two-person game,what strategy should the players play? Y₁Y₂ X₁12 16 X₂14 8