Page 217 - Probability Demystified

206 CHAPTER 11 Game Theory

2. The reward for winning the game is called the

a. Bet
b. Payoff
c. Strategy
d. Loss or win
3. In a game where one player pays the other player and vice versa, the
game is called —— game.
a. A payoff
b. An even sum
c. No win
d. A zero sum
4. When both players use an optimal strategy, the amount that on aver-
age is the payoff over the long run is called the —— of the game.
a. Value
b. Winnings
c. Strength
d. Odds
5. If a game is fair, the value of the game will be

a. 0
b. 1
c. 1
d. Undetermined

Use the following payoff table to answer questions 6–10.

Player B:
Player A: X Y
X 2 5

Y 7 8

6. If Player A chooses X and Player B chooses Y, the payoff is
a. 2
b. 7
c. 5
d. 8