Campaign Strategies27 Florida and Ohio are “swing states” that have a large bounty of electoral votes and are therefore highly valued by presidential campaign strategists. Suppose that it is now the weekend before Election Day 2012, and each candidate (Romney and Obama) can visit only one more state. Further, to win the election, Romney needs to win both of these states. Currently, Romney has a 40% chance of winning Ohio and a 60% chance of winning Florida. Therefore, he has a
a. Set up a payoff matrix with Romney as the row player and Obama as the column player, where the payoff for a specific set of circumstances is the probability (expressed as a percentage) that Romney will win both states.
b. Where should each candidate visit under the circumstances?
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Chapter 5 Solutions
Finite Mathematics and Applied Calculus (MindTap Course List)
- Elementary Linear Algebra (MindTap Course List)AlgebraISBN:9781305658004Author:Ron LarsonPublisher:Cengage Learning