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Economy (FIB) Atour again organizes standard and luxury tour: iorthe following year. One. the agency has committed to these tours. the schedule cannot be changed.
Economy (FIB) Atour again organizes standard and luxury tour: iorthe following year. One. the agency has committed to these tours. the schedule cannot be changed. The mta otthe economy during the Down Nodiange Up lollowing year has 8 dim affect on tour sales. From past records the agency has Islablism the lollmving payoilmalrix [in millions 0' dollars). Complete pm; (A) through (C) below. Standard 1 4 0 my 0 2 a (A) Find optimal strategies for both the agency and fate (Ihe economy). What in lhe value of the game? Determine the matrix M, the game matrix free of recessive Iowa and columns. M=|Z (Type an Integer or simplied lramlon for each matrix element) Find P. . the optimal atrategy iorihe agency. a F = (Type an Integer ar simplied traction for each matrix element.) Find a ' , the optimal atratagy for the economy (fate). a q a (Type an integer or almptied fraction for each matrix aternent.) Find v. the value ofthe game. v=$|:| (Round to the nearest dollar as needed.) (B) What proportion of each type of tour should be arranged for in advance in order for the agency to maximize its return irrespective of what the economy does the following year? Standard: E (Type an integer or a simplied fraction.) Luxury: [I (Type an integer or a simplied traction.) (C) Mat is lhe expected value of the game to the agency if they organize only luxury hours and late plays the strategy "down\"? The expected value is 53. (Round to the nearest dollar as needed.) What is the expected value of the game to the agency if the agency play: its optimal strategy and fate plays the strategy "no change"? The expected value is 53. (Round to the nearest dollar as needed.) PICCOLLAGE
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