Calculate the Expected Value of the Game with the Given $P = \left[ \begin{array} { c c c c } 2 & 0 & - 1 & 2 \\- 1 & 0 & 0 & - 2 \\- 2 & 0 & 0 & 1 \\3 & 1 & - 1 & 1\end{array} \right]$

question 149

Essay

Calculate the expected value of the game with the given payoff matrix using the mixed strategy supplied.
​
​ $P = \left[ \begin{array} { c c c c } 2 & 0 & - 1 & 2 \\- 1 & 0 & 0 & - 2 \\- 2 & 0 & 0 & 1 \\3 & 1 & - 1 & 1\end{array} \right]$ , $R = [ 0.5,0,0,0.5 ]$ , $C = [ 1,0,0,0 ] ^ { T }$

---

Definitions:

Determinants

Factors or variables that cause changes in an economic model's behavior or outcomes.

Standards Of Living

The degree of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.

Vast Oil Reserves

Large accumulations of underground oil that can be commercially extracted.

Economic Progress

Improvements in the standard of living and economic health of a society, often measured by factors such as GDP growth, technological innovation, and increased productivity.