A Decision Maker Using the Maximin Criterion on the Problem

question 31

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; 80
• C) C; 70
• D) D; 140
• E) D; 10

---

Definitions:

Entrepreneur

An individual who starts, operates, and assumes the risk of a business venture, aiming to transform innovations into economic goods.

Necessary Risks

Risks that are considered essential to take in pursuit of achieving objectives, innovation, or staying competitive in business.

Entrepreneurs

Individuals who create, organize, and operate businesses, taking on greater than normal financial risks in order to do so.

Business Ownership

The legal possession or control of a business, which may come in various forms like sole proprietorship, partnership, or corporation.