Determining the Average Payoff for Each Alternative and Choosing the Alternative

question 94

Multiple Choice

Determining the average payoff for each alternative and choosing the alternative with the highest average is the approach called:

• A) minimin.
• B) maximin.
• C) maximax.
• D) minimax regret.
• E) LaplacE.

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Definitions:

Antabuse

A pharmaceutical drug used primarily to support the treatment of chronic alcoholism by producing an acute sensitivity to ethanol.

Alcoholic

A person with an addiction to alcohol characterized by compulsive and uncontrolled consumption of alcoholic beverages despite negative effects on their health, social life, and personal relationships.

Harm Reduction

Harm reduction is a set of practical strategies and ideas aimed at minimizing negative health, social, and legal impacts associated with various human behaviors, both legal and illegal.

Predisposed

Having a tendency or inclination towards a particular condition, behavior, or attitude, often due to genetic or environmental factors.