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Decision Analysis & Modeling -
Question 1. Differentiate between "Pure strategy and Mixed strategy" in Game theory. Compare the two strategies using suitable examples.
Questio 2. Solve the following Transportation Problem (using Vogel's Approximation method) and find the optimal transportation Cost (using Stepping Stone Method)
Plants /
Warehouses
W1 W2 W3 Supply
P1 33 26 24 550
P2 21 28 31 350
P3 25 24 29 600
Demand 400 600 500
Question 3. a. A project involves the following activities with the given durations and precedence requirements
|
Activity
|
Duration(weeks)
|
Precedence requirements
|
|
A
|
1
|
-
|
|
B
|
7
|
-
|
|
C
|
4
|
A
|
|
D
|
3
|
A
|
|
E
|
6
|
B
|
|
F
|
2
|
B
|
|
G
|
9
|
C,D,E
|
|
H
|
3
|
F
|
|
I
|
11
|
0,11
|
I. Draw the network diagram of the project.
II. Determine the critical path and duration of the project
III. Which activities have slack and how much
b. Explain how the above project can be fast tracked.
Preview Container content
Table of Contents
1. Answer to question 1 2
2. Answer to Question 2 5
3. Answer to Question 3 8
a. Consideration of the activities related to the project- 8
I. Development of the Network 8
II. Determination of the Critical Path and Duration of the project 9
III. Which Activities have slack and the extent of the Slack 9
b. Explain the tracking of the project 10
References 11
. Answer to question 1
In game theory, pure strategy and mixed strategy plays an important role in the determination of the strategy of the player, and it indicates that the outcome of the game not only depends on the action of the sole player but the actions of the others (Shachat, Swarthout and Wei, 2015). This is the reason behind the selection of the strategy that allows in the process to determine the action of the player to make it at any stage of the game. With the consideration of the applied game theory, it has been found that the set of strategy is an important concern that makes the game solvable and meaningful.