Henry and Samantha have decide to gamble on a game of chance. Initially, each of them has 2 dollars. Samantha has a bit more experience. Therefore, each turn results in Henry winning with probability 0.2, Samantha winning with probability 0.25, and otherwise it's a draw. Whenever someone wins, they give the other 1 dollar. They play until someone runs out of money. Model the progress of the game as a Markov chain. Write down transition matrix, identify matrices Q and R. Please fill in the matrix to where the 2 × 2 matrix with entries 0.55, 0. 2 and 0. 25 in the diagonal and sub diagonal positions, respectively are illustrated in the matrix as apposed to the * that denotes it

A man buys a racehorse for $25,000 and enters it in two races. He plans to sell the horse​ afterward, hoping to make a profit. If the horse wins both​ races, its value will jump to $105,000. If it wins one of the​ races, it will be worth $65,000. If it loses both​ races, it will be worth only $10,000. The man believes there is a 30​% chance that the horse will win the first race and a 35​% chance that it will win the second one. Assuming that the two races are independent​ events, find the​ man's expected profit.

Chapter 15 Quiz 1 There are two types of decision models, deterministic and stochastic. True or False True False ezto.mheducation.com Saved

Determine if P = .8 .2 1 is a regular stochastic matrix.

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Write the payoff matrix for the given game, use Rachel as the row player.   Two players, Rachel and Charlie, each have two cards.  Rachel has one black card with the number 3 and one red card with the number 5.  Charlie has a black card with a 6 written on it and a red card with a 1.  They each select one of their cards and simultaneously show the cards.  If the cards are the same color, Rachel gets, in dollars, the sum of the two numbers shown.  If the cards are different colors, Charlie gets, in dollars, the difference of the two numbers shown.

Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$     Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…

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Either a mixed column or mixed row strategy is given. Use the given payoff matrix and find the optimal pure strategy (or strategies) the other player should use. Express the answer as a row or column matrix. Also determine the resulting expected payoff.

A system has five components connected as shown in the diagram. Assume A, B, C, D, and E function independently. If the probabilities that A, B, C, D, and E function 0.50, 0.65, 0.75, 0.95, and 0.80 respectively, what is the probability that the system fails?