Statistics Solutions

(See Solution) The payoff table below show advertising decision game between Drink Fruity and Drink Gassy. The amount are the payoffs x $1000 of dollars

Question:

  1. The payoff table below show advertising decision game between Drink Fruity and Drink Gassy. The amount are the payoffs x $1000 of dollars of annual profits.

  1. Does Drink Fruity have a dominated strategy in the original payoff table? If so, what is it? (2 marks)
  2. Does Drink Gassy have a dominated strategy in the original payoff table? If so, what is it? (2 marks)
  3. After the first round eliminating any dominated strategies that can be found in the original payoff table, describe the strategic situation facing the two companies . (2 marks)
  4. What is the likely outcome of the advertising decision? (2 marks)

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Deliverable: Word Document


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