4. Peter and Paul will play a game. Peter has two possible choices: OPASS or ORUSH; while Paul ha...
4. Peter and Paul will play a game. Peter has two possible choices: OPASS or ORUSH; while Paul has two possible choices: DPASS or DRUSH. For each combination of choices of Peter and Paul, there is a resulting GAIN for Peter. These GAIN values are given in the following two-by-two table. For example, if Peter chooses OPASS while Table 1: Table of gain values for Peter for combinations of choices by Peter and Paul. l'ei.er Chioae(ะเ OPASS ORUSII ue o...
In some game theoretic scenarios, there is no Nash equilibrium while players play ‘pure strategies’. This results in players constantly switching their strategies to gain an advantage over their opponents. However, a balance can be achieved by players stochastically mixing the pure strategies, resulting in mixed strategy equilibriums. A new synthetic material has been introduced to the shoe-making industry in Mongolia recently, which is suitable to the local weather. MoShoo and Newbie are two shoe-making companies which are planning to...
CASE 14 SAM PLING DISTRIBUTORS "We have to think more about our acceptance sampling decisions," said Buddy Abbot, head of the production department of Sam Pling Distributors. Sam Pling Distributors is a large company providing over twenty percent of the tire nuts used by American automobile manufacturers Listening attentively was Louis Costello, Abbot's assistant, who was charged with the sampling procedures used to ensure that out-going shipments conformed to the proper specifications noted on the order form. The key quality...