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1. Sun Resorts
Sun Resorts has a hotel on a Caribbean Island. It recently spent money to lobby the government to build a better airport and expand air service. Why did they do this? Do you think that Sun Resorts cares about how many airlines will serve the island? Explain.
2. The following game matrix shows the strategies and payoffs for Billy Corrigan and Eddie Vedder as they consider their concert schedule for Memorial Day. Each performer is headlining a national summer tour. The payoffs are in thousands of dollars.
Eddie Vedder's Strategy
Concert at Target Center
Concert in Chicago
Billy Corrigan's Strategy
Concert at Xcel Center
Billy gets $10
Billy gets $22
Eddie gets $19
Eddie gets $18
Billy gets $28
Eddie gets $34
Eddie gets $20
a. What is the dominant strategy, if any, for Billy Corrigan?
b. What is the dominant strategy, if any, for Eddie Vedder?
c. If there is a Nash equilibrium in the game, describe the Nash equilibrium or Nash equilibria.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
A famous hypnotist performs to a crowd of 350 students and 180 non-students. The hypnotist knows from previous experience that one half of the students and two third on the non-students are hypnotizable. What is the probability that a randomly cho..
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
What is the probability that Marie will be ranked number one after this year? What is the probability that Marie will win all 4 games this year against Jan?
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.
Create a payoff matrix for game assuming students choose to slack or work simultaneously and find the Nash equilibrium and explain why the result you found is a Nash equilibrium.
An instructor claims the average time to take a statistics test is more than 39 minutes. If a sample of 33 students took 43 minutes, is the instructor's claim true? Test at the 0.05 level.
where time is measured in months and 0
A dentist sees about fifteen new patients per month (the rest of her patients are repeats). She knows that on average, over the past year, about half of her patients have needed at least one filling on their first visit.
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.
Three students, Jim, Joan, and Jethroe are registered for the same class and attend independently to each other, Jim 95.7% of the time, Joan 92.3% of the time, and Jethroe 82.8% of the time. What is the probability that on any given day:
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