Solution-What is the value of the game

What is the value of the game

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Reference no: EM1351309

True or false

23. In game theory, the player seeking to maximize the value of the game selects a maximax strategy.

a. True

b. False

Problem

24. Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?

	Player B Strategies
Player A Strategies	b1	b2	b3
a1	5	5	4
a2	1	6	2
a3	7	2	3

However I do have the answers for the two questions I just need the steps

Optimal pure strategies: Player A uses strategy a1; Player B uses strategy b3. Value of game: Gain of 4 for Player A; loss of 4 for Player B.

25. Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?

	Company Y Strategies
Company X Strategies	y1	y2	y3
x1	3	5	9
x2	8	4	3
x3	7	6	7

ANS:
Optimal pure strategies: Company X uses strategy x3; Company Y uses strategy y2. Value of game: Gain of 6 for Company X; loss of 6 for Company Y.

Reference no: EM1351309

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What is the value of the game

Reference no: EM1351309

Reference no: EM1351309

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