The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $ 7000 . If he enters first port and is patrolled, he will get caught, he will have his rum worth $ 1000 confiscated and will be fined $ 1000 . If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

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Answer 1

Question

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

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Answer 2

Question

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

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Answer 3

Question

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

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Answer 4

Question

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

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Answer 5

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 6

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

Answer 7

Chapter 9.3, Problem 21E

(a)

To determine

The payoff matrix with entries in thousands dollars for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily. Also, denote the two ports by I and II.

Answer 8

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 9

(b)

To determine

To calculate: The optimal strategy for the rumrunner for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 10

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 11

(c)

To determine

To calculate: The optimal strategy for the coast guard for the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 12

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 13

(d)

To determine

To calculate: The value of the game corresponding to a smuggler’s strategy if a rumrunner smuggle rum into a country having two ports where the coast guard patrols one port each day. If the rumrunner enters through unpatrolled port, he sells his rum at a profit of $7000. If he enters first port and is patrolled, he will get caught, he will have his rum worth $1000 confiscated and will be fined $1000. If he enters the second port and is patrolled, he will have time to jettison his cargo and hence will escape a fine easily.

Answer 14

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Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 9.1 - Solutions can be found following the section...Ch. 9.1 - Prob. 2CYU Ch. 9.1 - Prob. 3CYU Ch. 9.1 - Prob. 1E Ch. 9.1 - Prob. 2E Ch. 9.1 - Prob. 3E Ch. 9.1 - Prob. 4E Ch. 9.1 - In Exercises 1–12, determine the optimal pure...Ch. 9.1 - In Exercises 1–12, determine the optimal pure...Ch. 9.1 - Prob. 7E

Solution Summary: The author explains the payoff matrix with entries in thousands of dollars for the game corresponding to a smuggler's strategy if the rumrunner enters through unpatrolled port and is patrolled.

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