Bank promotion. A town has only two banks, bank and bank , and both compete equally for the town’s..

Bank promotion. A town has only two banks, bank and
bank , and both compete equally for the
town’s business. Every week, each bank decides on the use of one, and only one,
of the following means of promotion: TV, radio, newspaper, and mail. A market
research firm provided the following payoff matrix, which indicates the
percentage of market gain or loss for each choice of action by and
by (we assume that any gain by is
a loss by , and vice versa):

(A) Find optimal strategies for bank and
bank . What is the value of the game?

(B) What is the expected value of the game for if
bank always chooses TV and bank uses
its optimal strategy?

(C) What is the expected value of the game for if
bank always chooses radio and bank uses
its optimal strategy?

(D) What is the expected value of the game for if
both banks always use the newspaper?