Jack and Jhon play the following game: Jack will write a character between A and Z inclusive on a piece of paper without showing it to Jhon and tells Jhon which number he has written. Jack may lay or tell the truth. Jhon then must guess whether or not Jack has told the truth. If Jack is lied and John guess, Jack must pay Jhon 40 YTL; If Jack lied and Jhon cannot guess, Jack will collect 20 YTL from Jhon. If Jhon guesses correctly when Jack told him the truth, Jack will pay Jhon 5 YTL. If Jack tell the truth but Jhon cannot guess, Jhon pays 20 YTL to Jack. Determine the value of this game and the optimal strategies of both Jack and Jhon.

Answer rating: 100% (QA)

Solution Jack and John Guess Not guess Tr... View the full answer