In Hurwicz Criterion,the Coefficient α Is Often Called the ______

question 20

Multiple Choice

In Hurwicz criterion,the coefficient α is often called the ______.

• A)coefficient of realism
• B)coefficient of pessimism
• C)coefficient of payoff
• D)coefficient of regret

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Definitions:

Ford

an American multinational automaker known for revolutionizing assembly line production for automobiles.

Factor of Production

A Factor of Production is an input used in the production of goods and services, such as land, labor, capital, and entrepreneurship.

Demand

Refers to the quantity of a product or service that consumers are willing and able to purchase at various prices over a given period of time.

Supply

The total quantity of a product or service that is available to consumers at a given price level.