Game Theory
1. Reading newspapers: A survey on student behavior in some major Bschools 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 Bschool 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…
(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 value

Negotiation: Game Theory and Games
13514 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 individuals…

Game Theory Essay
823 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 “Game Theory”, Borel could have been named the “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 1903…

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1709 Words  7 PagesGame 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, environmental…

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1102 Words  5 Pages2015). The model has further been taken global with such figures like Jean Tirole, who received global attention for the Nobel Memorial Prize award in 2011. The baseline theory, and game theory are applicable in business contexts as it did for Glasberg et al (2014) research case study. For the problem statement given above, game theory stands high applicable chances based on the idea that any business has to weigh the risks involved before considering a particular strategy (Blonski & Spagnolo, 2015)…

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2695 Words  11 PagesGAMES THEORY IN INTERNATIONAL RELATIONS 1.0 INTRODUCTION The field of game theory came into being with Émile Borel 's researches in his 1938 book ‘Applications aux Jeux des Hazard’, and was followed by the 1944 book ‘Theory of Games and Economic Behaviour’ by John von Neumann and Oskar Morgenstern. This theory was developed extensively in the 1950s by many scholars. Game theory was later explicitly applied to biology in the 1970s, although similar developments go back at least as far as the…

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1385 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 “There are three main mathematical models or forms used in the study of games, the extensive form, the strategic form and the coalitional form”…

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1512 Words  7 PagesThe scientific field of game theory is the usage of mathematics to predict and analyze “conflict, cooperation, and behaviors of thinking people” and the different strategies that can be applied in each case. Using mathematical fields such as calculus, statistics, and others, people who study game theory are able to formulate models and find the outcomes of a variety of different strategies. More importantly, game theory is not limited to games such as chess or poker, but a wide variety of fields…

Entry Deterrence in Game Theory
1519 Words  7 PagesIntroduction Game theory, in this essay, means the study of strategies adopted by rational decisionmakers of economic agents in specific situations, analyzing outcomes of mathematical models of conflict and cooperation (Myerson, 1991). Its basic elements include players, actions, information, strategies, payoffs, outcome and equilibrium, among which, players, strategies and payoffs are the most essential; actions and outcome are called as rules of the game (Rasmusen, 2000). The objective of the…

Game Theory On Non Cooperative Games
2218 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/noncooperative, symmetric/asymmetric, zerosum/ nonzerosum, simultaneous/ sequential, and more. However, this paper will focus mainly on noncooperative games, zerosum games, puzzles, and paradoxes. In zerosum games, a player will only benefit at the equal expense of others…

The Theory Of Game Theory
3442 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 this 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 theorists…
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