Exercise III: Dinner with the Boss (6 points) A boss wants to treat their employee to dinner, and the both of them are deciding on a convenient restaurant. Without informing each other, it is implied that the employee would like to have a meal that is as expensive as possible, and the boss would like to pay as little as possible. The following table represents the average meal price at each restaurant. The row and column labels are street and avenue numbers (in that order). For example, a meal in the restaurant on 54th street and 8th avenue averages 15 dollars. 9th 8th 7th 55th 30 35 50 54th 20 15 60 53rd 25 40 45 Suppose that the boss will choose the avenue, while the employee will choose the street. (a) If you were the boss, which avenue would you choose? Why? both has no knowledge of eachother's (b) If you were the employee, which street would you choose? Why? needs (c) What is the maximin strategy? Show all your steps, and explain who this belongs to. (d) What is the minimax strategy? Show all your steps, and explain who this belongs to. (e) Is there a saddle point? Where? (f ) What is the Nash Equilibrium for this situation? How do you interpret it