This Payoff Matrix Gives Potential Dollar Gain Values in Thousands

question 45

Multiple Choice

This payoff matrix gives potential dollar gain values in thousands for strategies S1, S2, S3, and S4 for Sam's Pizza and competitive strategies CA1, CA2, and CA3 for Pam's Pizza.What is the maximum regret value for S2? CA1 CA2 CA3
S1 13 14 7
S2 7 17 12
S3 31 29 4
S4 20 12 21

• A)24
• B)15
• C)5
• D)0

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Definitions:

Latent Learning

Learning that occurs without any obvious reinforcement and is not demonstrated until there is an incentive to do so.

Fixed-interval

A method of reinforcement where rewards are dispensed for the initial response after a set time period has elapsed.

Variable-interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed, in behaviorism.

Positive Reinforcement

A process by which the likelihood of a behavior's occurrence is increased through the addition of a desirable stimulus immediately following the behavior.