The Maximin Approach to Decision Making Refers To

question 177

Multiple Choice

The maximin approach to decision making refers to:

• A)minimizing the maximum return.
• B)maximizing the minimum return.
• C)maximizing the minimum expected value.
• D)choosing the alternative with the highest payoff.
• E)choosing the alternative with the minimum payoff.

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Definitions:

Agentic

Refers to an individual's capacity to act independently and make their own free choices.

Communal

Relating to a community or the collective, emphasizing shared ownership, responsibilities, or relationships.

Education Level

The highest degree or level of school completed by an individual, often used as an indicator of knowledge, skills, and competencies.

Warm but Incompetent

A social perception wherein an individual is regarded as likable but not skilled or capable.