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9.3 finite math homework A rumrunner can smuggle rum through one of two ports and the coast guard can patrol only one of them. If
9.3 finite math homework
A rumrunner can smuggle rum through one of two ports and the coast guard can patrol only one of them. If a port is unpatrolled, he can sell his rum for $6000. If he enters the first port and it's patrolled, he'll be caught, have his rum (worth $1000) taken, and be fined $2000. If he enters the second port and it's patrolled, he'll be able to dump his cargo and escape the fine. (a) What is the optimal strategy for the rumrunner? (b) What is the optimal strategy for the coast guard? (c) How profitable is rumrunning? That is, what is the value of the game? (a) The optimal strategy for the rumrunner is (Type an integer or simplified fraction for each matrix element.) (b) The optimal strategy for the coast guard is (Type an integer or simplified fraction for each matrix element.) (c) The rumrunner will make $ on average. (Round to the nearest cent as needed.)Step by Step Solution
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