Game Theory - 1654 Words

PS II 2013 Problem Set II 1. Reading newspapers: A survey on student behavior in some major B-schools in India asked a randomly selected group of 240 students on the number of hours a week he/she reads a newspaper. The sample mean was 4.1 and standard deviation 3. We can assume that the underlying distribution (of number of hrs reading newspaper) is approximately normal. a) What will be a 99% confidence interval of the population mean (number of hours a B-school student read newspapers/week)? b) Suppose you perform a similar survey at IIMA with 24 randomly selected students; the sample mean and the sample standard deviation were 4.5 and 2.8 respectively. What will be a 99% confidence interval of the population mean†¦show more content†¦Similarly, the number of defectives among the ten televisions of brand B is 2M. In order to test the null hypothesis H0: M = 2 against the alternative Ha: M gt; 2, the following procedure is adopted: (i) From the six televisions of brand A, draw a random sample of size two without replacement. (ii) From the ten televisions of brand B, draw a random sample of size two without replacement. (iii) Reject if and only if both the televisions in at least one of the two samples are defectives. a) What is the probability of type I error for the above test procedure? b) Find the probability of type II error for this procedure when M equals 3. 5. Anorexia in teenage girls: Anorexia is an eating disorder that can cause a person to be dangerously underweight. A recent study analysed the effect of cognitive behavioural therapy in aiding weight gain on 29 teenage girls affected with Anorexia. Each girl’s weight was measured before and after the therapy and the weight change (positive: weight gain; negative: weight loss) was noted. The weight changes for the 29 girls had a sample mean of = 3 kilos and a standard deviation of s = 7.32 kilos. Let  µ be the population mean weight change. It can be assumed that weight change follow a normal distribution in the population. a) What would be a reasonable set of hypotheses (null and alternative) for this problem? b) How many standard errors separate the sample average weight change of the 29 girls and the null valueShow MoreRelatedThe Theory Of Game Theory1616 Words   |  7 PagesGame theory is one to more complexed topics but reveals a clear understanding from different scholars. Don Ross explained that game theory is the study that interacts with the different choices of economics agents which bring forth many different outcomes with the point to the preferences of those agents, where the outcomes in question might have been intended by none of the agents (Ross, 2016). The properties that game theory considers in economic situations include two or more economic actorsRead MoreThe Theory Of Game Theory3442 Words   |  14 Pagesinvestigation, game theory is discussed. Game theory is the area of mathematics that considers methods of selecting best strategies in situations of conflict of interest. It is applicable to psychology, economics, politics, warfare. It is the practical nature of t his subject that makes it truly interdisciplinary. It is the practical nature that makes it, in my opinion, worthwhile studying. Game theory is closely linked to probability and statistics, in fact these two subjects are used as tools by game theoristsRead MoreNegotiation: Game Theory and Games13514 Words   |  55 PagesNEGOTIATION Negotiation theory Last updated 9 months ago The foundations of negotiation theory are decision analysis, behavioral decision making, game theory, and negotiation analysis. Another classification of theories distinguishes between Structural Analysis, Strategic Analysis, Process Analysis, Integrative Analysis and behavioral analysis of negotiations. Individuals should make separate, interactive decisions; and negotiation analysis considers how groups of reasonably bright individualsRead MoreThe Game Theory And Politics1709 Words   |  7 Pages Game Theory and Politics Whenever Game theory is taught at colleges, politics is one area that is never touched upon as an application of game theory. Though game theory in international relations and national politics has been a studied in detail in the past, there has been a recent increase in the popularity of this study. An increasing number of game models are extensively being used in informed studies of arms control, preservation of international peace, disarmament policies, environmentalRead MoreGame Theory On Non Cooperative Games2218 Words   |  9 PagesHaejung Yoon Mr. Cetron pd.8 Game Theory Game theory states that the actions of one participant depend critically on the actions of other participants. Game theory includes different types of games, such as, cooperative/non-cooperative, symmetric/asymmetric, zero-sum/ non-zero-sum, simultaneous/ sequential, and more. However, this paper will focus mainly on non-cooperative games, zero-sum games, puzzles, and paradoxes. In zero-sum games, a player will only benefit at the equal expense of othersRead MoreGame Theory Essay1385 Words   |  6 PagesGame Theory Picture if you will a group of people making decisions. The decisions that are made do not have to be significant at all. They have to be just significant to the situation at hand. This concept is considered to mathematicians as Game Theory. Game Theory is broken down into tree different types of games. As stated by Thomas S. Ferguson of UCLA â€Å"There are three main mathematical models or forms used in the study of games, the extensive form, the strategic form and the coalitional form†Read MoreGame Theory Essay823 Words   |  4 PagesGame Theory was said to have been introduced by Emile Borel in 1921. Borel was a French mathematician who published papers on the theory of games. From this standpoint and according to the article â€Å"Game Theory†, Borel could have been named the â€Å"first mathematician to envision an organized system for playing games† however; evidence has shown that Borel did not develop his ideas any further. This is the reason why most historians have given credit to John Von Neumann. Von Neumann was born in 1903Read MoreGame Theory Project1506 Words   |  7 PagesGAME THEORY Project Phase I 1. Introduction Decision concerning electrical transmission network expansion has become harder in the last two decades. As a matter of fact, the power sector has been decentralized and the electricity market is now a competitive market. Thus a transmission expansion plan cannot follow the traditional planning criteria anymore. As a result, new techniques are developed in order to solve the transmission expansion problem TEP. Usually different optimizationRead MoreOutline Game Theory2132 Words   |  9 PagesB6838 Game Theory Instructor Name: Title: Tel: Email : Adjunct Faculty David Cheung Game Theory (Semester 1, Full course, No final in-class exam) (65) 9022 4161 david.cheung@ntu.edu.sg COURSE DESCRIPTION Game theory provides managers a structured and coherent approach to making better strategic decisions in an environment where conduct of competitors is often uncertain. This course uses cases to provide both the conceptual foundations of game theory and applications to business. This course appliesRead MoreGame Theory Introduction17342 Words   |  70 PagesStrategies and Games Strategies and Games Theory and Practice prajit k. dutta The MIT Press Cambridge, Massachusetts . London, England  © 1999 Massachusetts Institute of Technology All rights reserved. No part of this book may be reproduced in any form by any electronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from the publisher. This book was set in Melior and MetaPlus by Windfall Software using