SCENARIO 20-2 The Following Payoff Matrix Is Given in Dollars

question 11

Multiple Choice

SCENARIO 20-2
The following payoff matrix is given in dollars.

Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 20-2,what is the best action using the maximin criterion?

• A)Action A
• B)Action B
• C)Either Action A or Action B
• D)It cannot be determined.

---

Definitions:

Control Systems

The means to monitor input, transformation, and output so as to identify problems.

Communication Tools

Tools used to share or exchange information, such as email, social media, and messaging apps.

Processes

Sequences of actions or steps taken in order to achieve particular outcomes, often used in the context of business operations, production, or organizational procedures.

Productivity

The measure of outputs according to the inputs needed to produce them; a way to determine the efficiency of a business.