Which of the Following Is a Component of a PERT

question 14

Short Answer

Which of the following is a component of a PERT chart?
A. Timeline.
B. Gateway.
C. Node.
D. Bar.

Explain the mediation process, the role of mediators, and the benefits of mediation's nonadversarial nature.

Understand the concept of game theory and its applications.

Identify dominant strategies in various game setups.

Recognize conditions for Nash equilibria in pure and mixed strategies.

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Definitions:

Expected Payoff

Expected payoff is the anticipated value of an investment or decision under uncertainty, calculated as the weighted average of its possible outcomes.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal, considering the strategies of other players, and no player has anything to gain by changing only their own strategy.

Pure Strategies

In game theory, a strategy where a player consistently follows a specific action or plan whenever a particular situation arises.

Dominant Strategy

In game theory, a strategy that is the best for a player to follow, regardless of the strategies chosen by other players.