Question

The maximin rule ignores bad outcomes. is used by optimistic managers. minimizes the potential regret. a...

The maximin rule

ignores bad outcomes.

is used by optimistic managers.

minimizes the potential regret.

a and c

none of the above

0 0
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Answer #1

Option C

  • Maximin approach is an approach used in decision making when it is done under certain level of uncertainties. Where both the best and worst outcomes are involved.
  • Under this approach all the worst possible outcomes are selected and the best among the one is chosen and then the path that minimises potential regret is followed.
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