There are 21 pennies on a table between two players. The two players take turns removing either 1, 2 or 3 pennies at a time. The player who takes the last penny loses. Use backward induction to come up with a strategy that the player who takes the second turn in the game can use to guarantee that she wins the game.

Using the NPV bid price method, a construction firm submits a bid to build an apartment building, wins the bid, and proceeds to complete the building. After the project is completed, the company's CFO is puzzled by the fact that the company lost money on the project. If the CFO used the correct method for calculating the NPV bid price , how could this have happened?

There are 100 coins in a jar. Two players take turns removing anywhere from 1-10 coins from the jar. The player who empties the jar by removing the remaining coin(s) wins the game. To guarantee that you win the game, would you choose to move first or second, and what strategy would you follow?

Suppose that the government imposes quota of 70% of the current import amount. Do the following:

a. Plot a graph to show the effects of the quota.

b. Show the new areas of consumer surplus, producer surplus, and any other relevant areas.

c. Show the deadweight losses due to the quota.

d. Who wins and who loses from the quota?

Using economic concepts learned in class, economically evaluate a maximum price policy being implemented in Christchurch on the market for residential rental properties. As part of your answer, explain who wins and who loses from the maximum price policy AND WHY. Also explain whether you think the policy should be implemented or not and why/why not.?

Two players take turns taking sticks from a pile of 16 sticks. Each player can take at most 3 sticks and at least 1 stick at each turn. Whoever takes the final stick wins the game. Describe in words the optimal strategy for each player. Is there a first-mover advantage in this game? Is there a second-mover advantage?

The average number of minutes individuals spend on the computer during a day is 134 minutes and the standard deviation is 25 minutes. The number of minutes individuals spend on the computer during a day is normally distributed. If one individual is randomly selected, find the probability that their average number of minutes spent on the computer is (Show your work to receive credit):

a) More than 164 minutes

b) Less than 118 minutes

1. ABC Corporation has 350 employees. The distribution of number of sick days per employee per year for the population of 350 employees is not highly skewed and has a mean of 12 and a standard deviation of 4. Suppose a simple random sample of 25 employees' number of sick days is taken, what is the probability that the sample of 25 will have mean number of sick days between 10 and 14? Show your work.

Question 1. Put the following game into the normal form. That is, describe the set of players, the strategy sets for each player, the payoff functions, and draw the game in matrix form. What do you expect would happen in this game, and why?Two kids are playing a game of Chicken. In this game, they ride their bikes as fast as theycan at each other. The one to swerve or turn out of the way loses, he is a Chicken and will getteased by his friends, while the kid who keeps going straight wins, and gets to brag about his victory.However, if neither kid swerves, they will crash into each other, which will hurt a lot more thanbeing teased. If both kids swerve, then nobody is hurt or teased, but also nobody wins. The kidsprefer winning to losing, but prefer both winning and losing as preferable to crashing.Let each player have two options: Swerve and Straight. Let the payoff of winning be 10, the payoff of losing be -1, the payoff to neither winning orl losing be 0, and the payoff of crashing be -10

Win/Loss and With/Without Joe: Joe plays basketball for the Wildcats and missed some of the season due to an injury. The win/loss record with and without Joe is summarized in the contingency table below.

Observed Frequencies: O_i's

The Test: Test for a significant dependent relationship between wins/losses and whether or not Joe played. Conduct this test at the 0.05 significance level.

(a) What is the test statistic? Round your answer to 3 decimal places.

χ²

=

(b) What is the conclusion regarding the null hypothesis?

reject H₀

fail to reject H₀    

(c) Choose the appropriate concluding statement.

We have proven that Joe causes the team to do better.

The evidence suggests that the outcome of the game is dependent upon whether or not Joe played.     

There is not enough evidence to conclude that the outcome of the game is dependent upon whether or not Joe played.

We have proven that the outcome of the game is independent of whether or not Joe played.