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Your firm has determined that if the average household salary in a geographic area is greater than $53000, then their product will be successful. You randomly sample 28 households in an area of consideration, and find the mean to be $51200 with a standard deviation of $2100. Can we infer that the firm should launch the product in this area?
Assume two competitors every face important strategic decisions where payoff to each decision depends upon reactions of the competitor. Company A can select either row in the payoff matrix defined below,
A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean.
In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy.
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
In a public opinion poll, 48% of 189 respondents favor an elimination of taxes on dividend income.
State a conclusion about the null hypothesis-reject Ho or fail to reject Ho. State a final conclusion-non-technical that addresses the original claim.
Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other,
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
Find a real-world example where the uncertain quantity you are interested in can be modeled as a random variable with exponential distribution. Explain why the memoryless property indeed holds.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
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