Home work ch 5 | Mathematics homework help

 Home work ch 5

From the book  no 11 – 12

  

10.     Consider the following two-person zero-sum game.  Assume the two players have the same two strategy options.  The payoff table shows the gains for Player A.

             

Don't use plagiarized sources. Get Your Custom Essay on
Home work ch 5 | Mathematics homework help
Just from $5/Page
Order Essay

 

 

Player B

Player A

Strategy b1

Strategy b2

Strategy a1

 3

9

Strategy a2

 6

2

 

Determine the optimal strategy for each player.  What is the value of the game?

 

11.consider the following two-person zero-sum game. identify the pure strategy what is value game?

 

Player a

Player b

 

B1

B2

B3

a1

8

5

7

 

a2

2

4

10

 

2. Suppose that a decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table:

State of Nature

Decision Alternative S1 S2 S3 S4

D1 14 9 10 5
D2 11 10 8 7
D3 9 10 10 11
D4 8 10 11 13

A. If the decision maker knows nothing about the probabilities of the four states of nature, what is recommended decision using the optimistic, conservative and minimax regret approaches?
B. Which approach do you prefer? Explain. Is establishing the most appropriate approach before analyzing the problem important for the decision maker? Explain.
C. Assume that the payoff table provides cost rather than profit payoffs. What is the recommended decision using the optimistic, conservative and minimax regret approaches?

 

9- Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a full-price service using the company’s new fleet of jet aircraft and a discount service using smaller capacity commuter planes. It is clear that the best choice depends on the market reaction to the service Myrtle Air offers. Management developed estimates of the contribution to profit for each type of service based upon two possible levels of demand for service to Myrtle Beach: strong and weak. The following table shows the estimated quarterly profits (in thousands of dollars).

 

Demand for service

Service Strong Weak

Full price 960 -490

discount 670 320

 

a. What is the decision to be made, what is the chance event and what is the consequence for this problem? How many outcomes are there for the chance event?

 

b. If nothing is known about the probabilities of the chance outcomes, determine the recommended decision using the optimistic, conservative, and minimax regret approaches.

 

 

8- The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature:

 

 

States of Nature

 

Decision Alternative

S1

S2

D1

10

4

D2

1

3

 

 

a-    Use the graphical sensitivity analysis to determine the range of values of the probability of state of nature s1 over which each of the decision alternatives has its largest expected value

 

b-    Suppose the decision maker obtains the probabilities P(S1) = 0.2, P(S2) = 0.8, What is the expected value approach?

 

 

 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We are committed to making our customer experience enjoyable and that we are keen on creating conditions where our customers feel secured and respected in their interactions with us.
With our qualified expert team who are available 24/7, we ensure that all our customer needs and concerns are met..

Money Payback-back guarantee

Our refund policy allows you to get your money back when you are eligible for a refund. In such a case, we guarantee that you will be paid back to your credit card. Another alternative we offer you is saving this money with us as a credit. Instead of processing the money back, keeping it with us would be an easier way to pay for next the orders you place

Read more

Zero-plagiarism guarantee

All orders you place on our website are written from scratch. Our expert team ensures that they exercise professionalism, the laid down guidelines and ethical considerations which only allows crediting or acknowledging any information borrowed from scholarly sources by citing. In cases where plagiarism is confirmed, then the costumier to a full refund or a free paper revision depending on the customer’s request..

Read more

Free-revision policy

Quality is all our company is about and we make sure we hire the most qualified writers with outstanding academic qualifications in every field. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

We understand that students are not allowed to seek help on their projects, papers and assignments from online writing services. We therefore strive to uphold the confidentiality that every student is entitled to. We will not share your personal information elsewhere. You are further guaranteed the full rights of originality and ownership for your paper once its finished.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency