Application of Game Theory Presentation
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
25 Application of Game Theory Presentation
Application of Game Theory Presentation
Worksheet Deliverable 07
The first thing you should highlight is your track record of client satisfaction. You’ve worked with 25 clients in the last 18 months, and according to the customer satisfaction surveys that all clients are requested to complete when their contract is over, 22 of them gave you the highest rating. Use this data to determine the best anticipated likelihood of a new client providing the highest level of satisfaction.
However, a one satisfied consumer is insufficient. G & B Consulting places a premium on maintaining high ethical standards and continually receiving the highest rating from the Better Business Bureau. To keep this ranking, the company must maintain an average of at least 85% of consumers who give you high customer satisfaction evaluations. G&B Consulting is expected to serve 60 clients in the coming year, according to internal expectations. Find the probability that 85 percent or more of new clients will give the greatest degree of customer satisfaction if you become the project manager and use your previous record as an indicator. Display all of the calculations and formulas that were used. Include Excel spreadsheets with your submission if you used it for your calculations. Use this information to persuade others that you are the best candidate for the job.
Based on your previous work history at G& B Consulting, calculate the likelihood of obtaining a satisfied client. Show all of your work.
Describe how you came up with your solution.
Calculate the likelihood of at least 85 percent of your clients giving you great customer satisfaction ratings based on your previous work experience.
Describe how you came up with your solution.
Take your results from slide 2 and use them to develop a case for why you’d be a good fit for the job.
The other item you’d like to point out is something you did for a local manufacturer. They were considering legal action because they suspected a competitor was illegally exploiting one of their patents in their own manufacturing method. Because the manufacturer’s profit was being harmed by the competitor’s goods, they wished to stop it from being manufactured and collect those lost revenues. Of course, the legal procedure is time-consuming and costly, and the outcome is not certain, and the opponent is likely to file a countersuit. Before pursuing expensive legal counsel, the company recruited G&B Consulting to assist them in determining the best course of action.
This was a potentially profitable contract, as well as a high-profile one, because the company is one of the area’s largest employers. As a result, many analysts at G&B Consulting, including yourself, were instructed to work on the problem on their own to achieve the best possible results. The results were provided to the project lead before preparing a final report to give to the manufacturer:
One of your coworkers came up with the initial suggestion. He was able to generate the following reward matrix using only the manufacturer’s profit forecasts, where each entry is in millions of dollars.
A different employee presented the solution. She again built a payoff matrix for the situation, but did some independent research to estimate the competitor’s profits in each event apart from the manufacturer’s profits, and came up with the payoff matrix below, where the values represent millions of dollars in annual profits once again.
Sue, a competitor manufacturer Please don’t sue Sue (5, -5) (20, ten)
Please don’t sue (10, 20) (15, 15)
According to this coworker, the manufacturer should sue 50% of the time and not suit the other 50% of the time in similar instances, and they should expect their competitor to do the same.
Slide 7 Use the mixed strategy method to determine the manufacturer’s best approach. Demonstrate all of your steps.
Find the best plan for the rival using the mixed strategy method. Demonstrate all of your steps.
Slide 9 Do your findings correspond to those of your coworker? Explain why you agree or disagree with the statement.
You provide your own solution, which is based on a non-simultaneous game in which the manufacturer must first select whether or not to go to court. If they want to do so, their opponent will have to determine whether or not to launch a counter-suit. You used the same payoff matrix provided by the second employee, which includes information about both companies’ predicted profitability.
Create a game tree for this scenario, excluding any threats that aren’t credible.
Describe how you came up with the non-credible threat.
Perform the first step of backwards induction on slide 10. Your work has been demonstrated and explained.
Perform the second phase of backwards induction on slide 11. All of your effort should be displayed and explained.
Determine the best strategy for the game on slide 12.
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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