- Example of Permutation:
My locker combination is 15-2-7. If you put it in another order it won’t open.
- Example of Combination:
If I bake a cake I put in all the ingrediants randomly because they’re all going to get mixed together anyway.
- Example of Independent Probability:
Rolling a die.
- Example of Dependent Probability:
Having a bag full of an even amount of blue and red marbles, then taking out a red. It increases the chances of getting a blue.
- Why is Prisoners Dilemma a dilemma?
- What is a Dominant Strategy?
A strategy is dominant if the player gets a larger payoff than the other.
- What is a Nash Equilibrium?
where neither of the players change their strategy.
- What is a Simultaneous Game?
- What is the Monty Hall problem?
- What is Information Cascade?