ADVANCED ANALYSIS Suppose You Are Playing A Game In Which You And One Other Person Each Picks A Number Between 1 And 100, With The Person Closest To Some Randomly Selected Number Between 1 And 100 Winning The Jackpot. (Ask Your Instructor To Fund The Jackpot.) Your Opponent Picks First. A. You Expect Your Opponent To Choose The Number 50 Because O Choosing

 

 

ADVANCED ANALYSIS Suppose you are playing a game in which you and one other person each picks a number between 1 and 100, with the person closest to some randomly selected number between 1 and 100 winning the jackpot. (Ask your instructor to fund the jackpot.) Your opponent picks first. a. You expect your opponent to choose the number 50 because choosing this number lowers the chance of winning below 50-50. O this number gives away her strategy. O this number offers too many choices for the next person. choosing this number lowers the jackpot. You would then pick the number (Click to select) b. The two numbers are so (Click to select) because you know with a high probability that the randomly selected number will be one of those two numbers. O the selection of those numbers equalizes the probability of winning. O each person maximizes his or her probability of winning. you know with certainty that the randomly selected number will be one of those two numbers. c. Home Depot and Lowes, Walgreens and Rite-Aid, McDonald's and Burger King, and other major pairs of rivals locate close to each other in many well-defined geographical markets that are large enough for both firms to be profitable. This is because all of these companies choose a central location to drive out competitors. Orely on the same suppliers. O choose a central location to maximize their share of customers.