The Equilibrium Solution for the Following Payoff Matrix Is A) 1, 1
B) 2, 0

question 68

Multiple Choice

The equilibrium solution for the following payoff matrix is: $\begin{array} { | l | l | l | } \hline& { \text { A } } & \text { A } \\\hline \text { B } & \text { A: } - 1 , B : - 1 & \text { A: } 2 , B : 0 \\\hline \text { B } & \text { A: } 0 , B : 2 & \text { A: } 1 , B : 1 \\\hline\end{array}$

• A) 1, 1.
• B) 2, 0.
• C) 0, 2.
• D) ?1, ?1.

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Definitions:

Type I Error

A Type I error occurs in hypothesis testing when a true null hypothesis is incorrectly rejected, falsely indicating a significant effect or difference when there is none.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, typically denoted as alpha.

P < .01

Indicates that the probability of the observed data occurring by chance is less than 1%, suggesting strong evidence against the null hypothesis.

P < .05

"P < .05" indicates that the probability of the observed data (or something more extreme) given that the null hypothesis is true is less than 5%, commonly used as a threshold for statistical significance.