A Decision-Maker Using the Maximin Criterion on the Problem Below

question 80

Multiple Choice

A decision-maker using the maximin criterion on the problem below would choose Alternative __________ because the maximum of the row minimums is __________.

• A) A; 55
• B) B; 30
• C) C; 70
• D) D; 140
• E) D; 10

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Definitions:

Fair Day's Work

The expectation of a reasonable amount of work to be completed by an employee within a workday.

Classical Stopwatch Study

A time study method where a timekeeping device is used to measure the time it takes for a worker to perform a set of tasks or operations.

Time Study

Timing a sample of a worker’s performance and using it as a basis for setting a standard time.

Labour Standards

Benchmarks or criteria used to measure the expected performance or productivity of workers within a specific time period.