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You have been picked up and are being questioned for a crime you did not commit. However, you are not certain you can convince the justice system that you are innocent. Which of the following might be the main cause if you are wrongfully convicted?
Minimax Regret Strategy
Minimax Regret Strategy is a decision-making approach that aims to minimize the maximum possible regret from choosing an unfavorable option, considering the worst-case scenario.
Conservative Strategy
A risk management strategy that opts for investments or decisions that are expected to yield lower variability and risk.
Opportunity Loss Strategy
An approach in decision making that focuses on minimizing the potential loss for not choosing the best alternative.
Scoring Model
A statistical tool or algorithm that assesses and assigns scores to individuals or entities based on various attributes or behavior patterns to predict future outcomes.
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