For calculating the saddle point and value of game, following procedures will be adopted on payoff matrix-
- Identify minimum from each row of the payoff matrix and place symbol * there. Then, take maximum of these minima.
- Identify maximum from each column of the payoff matrix and place symbol x there. Then, take minimum of these maxima.
- If both the above symbols,e., * and x occurs in that particular cell or entry, then it is called as the saddle point. This value will be considered as value of the game, v.
We can also write it as,
v = Maximum (Row Minima) = Minimum (Column Maxima)
It is possible to have more than one saddle point, but value of the game will remain unique.
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- Introduction to statistics
- Knowledge of central tendency or location
- Definition of dispersion
- Moments
- Bivariate distribution
- Theorem of total probability addition theorem
- Random variable
- Binomial distribution
- What is sampling
- Estimation
- Statistical hypothesis and related terms
- Analysis of variance introduction
- Definition of stochastic process
- Introduction operations research
- Introduction and mathematical formulation in transportation problems
- Introduction and mathematical formulation
- Queuing theory introduction
- Inventory control introduction
- Simulation introduction
- Time calculations in network
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