Quantitative Analysis for Management, 13/e

Self-Test

• Before taking the self-test, refer back to the learning objectives at the beginning of the module and the glossary at the end of the module.

• Use the key at the back of the book to correct your answers.

• Restudy pages that correspond to any questions that you answered incorrectly or material you feel uncertain about.

1. In a two-person, zero-sum game,

   1. each person has two strategies.

   2. whatever is gained by one person is lost by the other.

   3. all payoffs are zero.

   4. a saddle point always exists.

2. A saddle point exists if

   1. the largest payoff in a column is also the smallest ­payoff in its row.

   2. the smallest payoff in a column is also the largest ­payoff in its row.

   3. there are only two strategies for each player.

   4. there is a dominant strategy in ...