Deliverable 04

Deliverable 04 – Worksheet 1. Market research has determined the following changes in market shares based on the different combinations of music choices for the two clubs: if both clubs play country, the new club (Club 1) does very well with a 12% increase in market share. If Club 1 plays country and the competing club (Club 2) plays rock, Club 2 gets a 6% increase in market share. If these choices are reversed, Club 2 does even better and gets an 9% increase in the market share. Lastly, if both clubs play rock, Club 1 does better and gets a 3% increase in market share. This results in the following payoff matrix: Club 1 Club 2 Country Rock Country (12, -12) (-6, 6) Rock (-9, 9) (3, -3) Use this payoff matrix to determine if there are dominant strategies for either player. Find any Nash equilibrium points. Show all of your work. Enter your step-by-step answer and explanations here. 2. Use the payoff matrix from number 1 to determine the optimum strategy for Club 1. Show all of your work. Enter your step-by-step answer and explanations here. 3. Use the payoff matrix from number 1 to determine the optimum strategy for Club 2. Show all of your work. Enter your step-by-step answer and explanations here. 4. 5. Find and interpret the value of the game. Enter your step-by-step answer and explanations here. 6. Working in parallel your co-worker wants to make the recommendation that the new club owner should always follow the schedule shown below. Do you agree or disagree with this strategy? Explain your reasoning. Wednesday Thursday Friday Saturday Sunday Rock Country Rock Country Rock Enter your step-by-step answer and explanations here.
Purchase answer to see full attachment – Worksheet 1. Market research has determined the following changes in market shares based on the different combinations of music choices for the two clubs: if both clubs play country, the new club (Club 1) does very well with a 12% increase in market share. If Club 1 plays country and the competing club (Club 2) plays rock, Club 2 gets a 6% increase in market share. If these choices are reversed, Club 2 does even better and gets an 9% increase in the market share. Lastly, if both clubs play rock, Club 1 does better and gets a 3% increase in market share. This results in the following payoff matrix: Club 1 Club 2 Country Rock Country (12, -12) (-6, 6) Rock (-9, 9) (3, -3) Use this payoff matrix to determine if there are dominant strategies for either player. Find any Nash equilibrium points. Show all of your work. Enter your step-by-step answer and explanations here. 2. Use the payoff matrix from number 1 to determine the optimum strategy for Club 1. Show all of your work. Enter your step-by-step answer and explanations here. 3. Use the payoff matrix from number 1 to determine the optimum strategy for Club 2. Show all of your work. Enter your step-by-step answer and explanations here. 4. 5. Find and interpret the value of the game. Enter your step-by-step answer and explanations here. 6. Working in parallel your co-worker wants to make the recommendation that the new club owner should always follow the schedule shown below. Do you agree or disagree with this strategy? Explain your reasoning. Wednesday Thursday Friday Saturday Sunday Rock Country Rock Country Rock Enter your step-by-step answer and explanations here.
Purchase answer to see full attachment

Just $7 Welcome
Order Now