A Decision-Maker Using the Maximax Criterion on the Problem Below

question 61

Multiple Choice

A decision-maker using the maximax criterion on the problem below would choose Alternative __________ because the maximum of the row maximums is __________. $$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \\\begin{array} { | l | c | c | c | } \hline & 1 & 2 & 3 \\\hline \text { Alternative A } & 50 & 55 & 60 \\\hline \text { Alternative B } & 30 & 50 & 80 \\\hline \text { Alternative C } & 70 & 80 & 70 \\\hline \text { Alternative D } & - 100 & - 10 & 140 \\\hline\end{array}$$

• A) A; 60
• B) B; 80
• C) C; 70
• D) D; -100
• E) D; 140

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Definitions:

Projects Fail

Situations where projects do not meet their intended objectives or criteria for success, often due to various problems or challenges.

Manage Project

The process of planning, executing, and monitoring a project to achieve its specific goals within the given constraints.

Technological Uncertainty

The unpredictability associated with the development and implementation of new technologies, affecting project outcomes and planning.

High Tech

Technologies that are at the cutting edge, the most advanced stage of development in the fields such as information technology, robotics, biotech, etc.