1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tanzania [10]
3 years ago
5

A job candidate is being taken out to dinner by a an interviewer. The interviewer gets to pick therestaurant they will dine (eit

her a chain or a local restaurant). Once at the restaurant, the job candidatewill pick ordering the steak or the salad. The chain restaurant has a better steak while the local restauranthas a better salad. Steaks are more expensive than salads at both restaurants and the local restaurant ischeaper than the chain restaurant.
(Interviewer payoff, Candidate payoff); local vs chain and salad vs steak

local-salad: (4,3)
local-steak: (2,1)
chain-salad: (3,2)
chain-steak: (1,4)

Required:
a. Given the payoff table above, draw the extensive form of the game including payoffs and use backward induction to find the outcome of the game (i.e. which restaurant will they visit and what will the job candidate order?)
b. Write the strategy employed by the interviewer and the strategy employed by the job candidate.
c. Write all the other possible strategies for each player.

Business
1 answer:
Fofino [41]3 years ago
5 0

Answer and Explanation:

a. They will visit the local restaurant and the job candidate will choose to have salad as an order. Please check the attachment I added for the other parts of the answer.

b. The interviewer would make a choice and choose local restaurant. Based on this choice, the job candidate will choose salad. If the interviewer should choose chain restaurant, the job candidate will choose steak

C. Strategy

The interviewer:

S = {chain,local}

Job candidate:

S = {(steak, salad} multiplied by {steak, salad}

= {(Steak steak), (steak salad), (salad, steak), (salad,salad)}

You might be interested in
Vanik Corporation currently has two divisions which had the following operating results for last year: Cork Division Rubber Divi
Crank

Answer:

$20,000

Explanation:

If the Rubber Division was dropped at the beginning of last year, the financial advantage (disadvantage) to the company for the year would have been: the segment's margin of $20,000

The president considering the elimination of this division is not advisable. As long as none of the allocated common corporate fixed costs could be avoided, If the Rubber Division was dropped at the beginning of last year, the financial disadvantage to the company for the year would have been it's contributed margin that went towards off-setting corporate fixed costs.

Furthermore, if this segment is closed, it would affect the Cork division because it would be reporting a lower net operating income of $90,000 as a result of bearing all the corporate costs alone.

 

3 0
3 years ago
Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The
andre [41]

Answer:

$409185

Explanation:

Given: Budgeted output units: 28,475 units

Budgeted machine-hours: 17,085 hours

Budgeted variable manufacturing overhead costs for 28,475 units: $358,785

Actual output units produced: 32,475 units

Actual machine-hours used: 15,000 hours

Actual variable manufacturing overhead costs: $384,060.

First, we will find Budgeted machine hour per unit produced.

Budgeted machine hour per unit produced=  \frac{Budgeted\ machine\ hour}{Budgeted\ units}

⇒Budgeted machine hour per unit produced= 17085\div 28475= 0.6

∴Budgeted machine hour per unit produced= 0.6

Budgeted machine hours allowed for 32475 units= 32475\times 0.6= 19485

Budgeted variable overhead rate per machine hour= \textrm {Budgeted variable manufacturing overhead costs}\div Budgeted\ machine\ hours

Budgeted variable overhead rate per machine hour= 358785\div 17085= \$ 21

Now, lets find out flexible budget amount.

Flexible budget amount= \textrm{Budgeted machine hours allowed}\times \textrm{Budgeted variable overhead rate}

Flexible budget amount= 19485\times \$ 21= \$ 409185

∴Flexible budget amount for variable manufacturing overhead= $409185

6 0
3 years ago
You make $13.00 Per Hour. You work 40 hrs. a week for 5 weeks this month. Total Hrs. Worked = _____
tangare [24]

Answer:

assuming that this month was extraordinarily long, and had more days than any other month in history, you worked a total of 5 x 40 = 200 hours

Also, due to length of the month, you will earn 200 hours x $13 = $2,600

Generally months tend to have between 20-23 labor days

5 0
3 years ago
what was a benefit of square inc. that differentiated it from the other pos systems that were available at the time it first lau
Mice21 [21]

Small businesses were able to afford to accept credit and debit card transactions because a flat fee was charged per transaction.

Smaller companies and individual vendors were able to accept credit and debit cards for payment since they didn't need to invest in expensive servers or infrastructure. Servers at restaurants were able to process customer payments right at the table, increasing the speed at which they could turn over tables.

Smaller groups and individual carriers had been capable of taking delivery of credit and debit cards for the price considering the fact that they did not need to spend money on high-priced servers or infrastructure. This led organizations to attention to how their personnel was prompted and managed and led to the development of a principle Y management fashion that specializes in the force for character self-achievement. McGregor's perspective places the obligation for performance on managers in addition to subordinates.

Learn more about The Benefits of square inc. here:-brainly.com/question/5777247

#SPJ4

3 0
1 year ago
What is a entrepreneurship
svetlana [45]

Entrepreneurship is both the study of how new businesses are created as well as the actual process of starting a new business – the term is used interchangeably.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Claire purchases an eight-year callable bond with a 10% annual coupon rate payable semiannually. The bond has a face value of 3,
    13·1 answer
  • Is stuedent loan debt funded by us government?
    13·1 answer
  • What is anomie? What effects does it have?
    15·1 answer
  • N the sentence We listened carefully to the CEO's remarks, the verb listened is _
    14·1 answer
  • Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The
    7·1 answer
  • Which interest-bearing account is best for people who won't need access to their money for several months or longer?
    14·1 answer
  • Allen deposits $2,000 in his local bank. He earns 2 percent interest each year on his deposit. Jessica borrows $1,000 from the s
    6·2 answers
  • A committee of size 5 is to be selected at random from 3 women and 5 men. The probability distribution for the number of women o
    9·2 answers
  • What is the term that slaves used for the voyage across the atlantic?
    7·1 answer
  • Majestic Theaters has plans to build a new $30 million movie theater and intends to finance this project through the sale of add
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!