Use the payoff matrix to determine the best strategy.
-A backpacker is planning a three-day trip in the backcountry with a friend. She wishes to keep the weight of her pack to a minimum. She has decided to bring either rock climbing shoes or an extra fleece jacket but not both. The fleece jacket will be useful if the weather is cold. The rock climbing shoes will be useful if the weather is warm. In trying to decide which of these two items to bring, the backpacker decides on the utilities shown in the following payoff matrix:
Which of the items should the backpacker bring if the probability of cold weather is 0.4 ?
A) neither
B) fleece jacket
C) rock climbing shoes

Question

Use the payoff matrix to determine the best strategy.
-A backpacker is planning a three-day trip in the backcountry with a friend. She wishes to keep the weight of her pack to a minimum. She has decided to bring either rock climbing shoes or an extra fleece jacket but not both. The fleece jacket will be useful if the weather is cold. The rock climbing shoes will be useful if the weather is warm. In trying to decide which of these two items to bring, the backpacker decides on the utilities shown in the following payoff matrix:
 Which of the items should the backpacker bring if the probability of cold weather is 0.4 ?
A) neither 
B) fleece jacket 
C) rock climbing shoes

Quizplus · Accepted Answer

The Answer of Use the payoff matrix to determine the best strategy.
-A backpacker is planning a three-day trip in the backcountry with a friend. She wishes to keep the weight of her pack to a minimum. She has decided to bring either rock climbing shoes or an extra fleece jacket but not both. The fleece jacket will be useful if the weather is cold. The rock climbing shoes will be useful if the weather is warm. In trying to decide which of these two items to bring, the backpacker decides on the utilities shown in the following payoff matrix:
 Which of the items should the backpacker bring if the probability of cold weather is 0.4 ?
A) neither 
B) fleece jacket 
C) rock climbing shoes

Use the Payoff Matrix to Determine the Best Strategy