Question
I'm trying to answer a question on optimum strategy from a provided payoff matrix and the answer that I'm arriving at isn't correct. I'm getting
I'm trying to answer a question on optimum strategy from a provided payoff matrix and the answer that I'm arriving at isn't correct. I'm getting a final answer of 80%
E S = 0P + 6 (1-P) = -6P + 6
E B = 2P + 4 (1-P) = 2P + 4 - 4P = -2P + 4
E S = E B
-6P + 6 = -2P + 4
-8P = 6+4
-8P = 10
P = 80%
With the payoff matrix for my values under ES is P and the values under EB my equation is 1 - P
When I adjust my calculations for that my final answer gets me to 0
ES = 0P + 6 (1-P) = -6P + 6
EB = 2 (1-P) + 4 (1-P) = 2 - 2P + 4 - 4P = 6 - 6P
ES = EB
-6P + 6 = -6P + 6
-6P = -6P + 6 - 6
-6P + 6P = 6 - 6
P = 0
I'm not sure if the equation that I'm using is correct
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