Midterm Solutions Spring 2014 - Stat 155 Midterm Spring 2014 sh is ar stu ed d vi y re aC s o ou urc rs e eH w er as o co m Name SID This exam has 5

Midterm Solutions Spring 2014 - Stat 155 Midterm Spring...

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Stat 155 Midterm Spring 2014 Name: SID: This exam has 5 problems and a total of 75 points. Attempt all questions and show your working - solutions without explanation will not receive full credit. One double sided sheets of notes are permitted. Answer questions in the space provided. If additional space is needed use the additional space on the final pages. Q 1Find the value and optimal strategies for both players in the following payoff matricesfor zero-sum games. ( a )[5 points] 2 4 7 3 ( b )[10 points] 2 3 8 1 1 2 3 4 3 2 1 8 (c) [10 points] Player 1 and 2 each choose a number from{1,2,3}. If they choose the samenumber then player 1 receives $1 from player 2 while if player 2 chooses a larger number thenplayer 1 pays $1 to player 2. If player 2 chooses a smaller number then nothing is exchanged.Write down the payoff matrix and calculate the value of the game. This study resource was shared via CourseHero.com

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