In Decision-Making Under Uncertainty, a Pessimistic Approach Is the __________

question 102

Multiple Choice

In decision-making under uncertainty, a pessimistic approach is the __________.

• A)maximin criterion
• B)maximax criterion
• C)Hurwicz criterion
• D)minimax regret strategy
• E)maximin regret strategy

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Definitions:

Useful Information

Information that is relevant, accurate, and timely, aiding individuals or organizations in making informed decisions.

Descriptive Statement

A written document that clearly describes the characteristics or details of an item or event.

Service Revenue

Income earned by a company for performing a service rather than selling physical goods.

Salaries and Wages Expense

The total amount paid to employees for services rendered during a specific period; considered an operating expense.