MYLAB MATH FOR EXCURSIONS IN MATHEMATIC
9th Edition
ISBN: 9780136415893
Author: Tannenbaum
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Chapter 3, Problem 28E
Four partners are dividing a plot of land among themselves using the lone-divider method. After the divider
a.
b.
c.
d.
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Two construction companies, Giant and Sky, bid for the right to build in a field. The possible bids are $ 10 Million, $ 20 Million, $ 30 Million, S 35 Million and S 40 Million. The winner is the company with the higher bid. The two companies decide that in the case of a tie (equal bids), Giant is the winner and will get the field. Giant has ordered a survey and, based on the report from the survey, 1 concludes that getting the field for more than $ 35 Million is as bad as not getting it (assume loss), except in case of a tie (assume win) Sky is not aware of this survey. (a) State reasons why/how this game can be described as a two-players zero-sum game [
Four
partners (Alonzo, Brenda, Camille, and Donald) are dividing a parcel of land valued at $240,000 among themselves using the lone divider method. Using a map, the divider divides the property
into four parcels; 5₁, 52, 53, and s4. The following table shows the value of the four parcels in the eyes of each partner, but some of the entries in the table are missing. What was Brenda's bid list?
51
5₂
Alonzo
$50,000
Brenda $40,000 $80,000
Camille $110,000 $40,000 $30,000
Donald $60,000
OA. (₂₂)
OB. (₂4)
53
54
$50,000 $70,000
$55.000
OC. (₂.₂)
OD. (₂.)
OE. None of these
CELLD
Question 6 is unpinned. Click to pin.
Question at position 6
Camila and Mark are going to divide a laptop and a computer desk using the Method of Sealed Bids. They place the following bids on the items.
Camila bids $235 on the laptop, and $69 on the desk.
Mark bids $56 on the laptop, and $45 on the desk.
Camila, with higher bids on both of them, will take both items. To make the division fair, how much money will she have to give to Mark?
Chapter 3 Solutions
MYLAB MATH FOR EXCURSIONS IN MATHEMATIC
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- Two mining companies, Red and Blue, bid for the right to drill a field. The possible bids are $ 15 Million, $ 25 Million, $ 35 Million, $ 45 Million and $ 50 Million. The winner is the company with the higher bid. The two companies decide that in the case of a tie (equal bids), Red is the winner and will get the field. Company Red has ordered a geological survey and, based on the report from the survey, concludes that getting the field for more than $ 45 Million is as bad as not getting it (assume loss), except in case of a tie (assume win). (a) State reasons why/how this game can be described as a two-players-zero-sum game (b) Considering all possible combinations of bids, formulate the payoff matrix for the game. (c) Explain what is a saddle point. Verify: does the game have a saddle point? (d) Construct a linear programming model for Company Blue in this game.(e) Produce an appropriate code to solve the linear programming model in part. (f) Solve the game for Blue using the linear…arrow_forwardTwo construction companies, Giant and Sky, bid for the right to build in a field. The possible bids are $ 10 Million, $ 20 Million, $ 30 Million, $ 35 Million and $ 40 Million. The winner is the company with the higher bid. The two companies decide that in the case of a tie (equal bids), Giant is the winner and will get the field. Giant has ordered a survey and, based on the report from the survey, concludes that getting the field for more than $ 35 Million is as bad as not getting it (assume loss), except in case of a tie (assume win). Sky is not aware of this survey. (a) State reasons why/how this game can be described as a two-players-zero-sum game (b) Considering all possible combinations of bids, formulate the payoff matrix for the game. (c) Explain what is a saddle point. Verify: does the game have a saddle point? (d) Construct a linear programming model for Company Giant in this game. (e) Produce an appropriate code to solve the linear programming model in part (d). (f)…arrow_forwardFour partners (Alonzo, Brenda, Camille, and Donald) are dividing a parcel of land valued at $240,000 among themselves using the lone-divider method. Using a map, the divider divides the property into four parceis s1, s2, s3, and $4. The following table shows the value of the four parcels in the eyes of each partner, but some of the entries in the table are missing. S1 S2 s3 S4 Alonzo -170,600 $50,000 $80,000 $50,000 $55,000 $70,000 Brenda 175,000 $40,000 $110,000 Camille $40,000 =LO, 0 00 $30,000 =000 Donald $60,000 4) Who was the divider? A) Donald B) Alonzo O Camille Brenda E) none of these 5) What was Brenda's bid list? A) {s2, s4} .000 B) (s2, S3, S4} O$2, s3) D) {s2 } E) none of these 6) Which of the following is a fair division of the property? A Alonzo gets s1, Brenda gets s2, Camille gets s3, Donald gets s4 B) Alonzo gets s1, Brenda gets s4, Camille gets s2, Donald gets s3 C) Alonzo gets s1, Brenda gets s2, Camille gets s4, Donald gets s3 D) Alonzo gets s2, Brenda gets s1,…arrow_forward
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