A Maximin Strategy Will Always Choose the Act or Alternative

question 41

Multiple Choice

A maximin strategy will always choose the act or alternative that ________.

• A)maximizes the expected monetary value
• B)minimizes the maximum regret or opportunity loss
• C)maximizes the potential payoff regardless of the state of nature
• D)guarantees a payoff for any state of nature

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Definitions:

Combining Form

In linguistics, especially in the formation of technical or medical terms, a form that combines with another form to create a new word, often linked by a vowel.

Prefix

A word, letter, or number placed before another.

Consonant

A basic speech sound made by obstructing part of the vocal tract, classified differently from vowels in linguistics.

Procedure

A systematic sequence of actions or steps designed to achieve a specific goal.