The Maximin Criterion Involves

question 22

Multiple Choice

The maximin criterion involves:

• A) minimization of expected opportunity costs.
• B) avoidance of the worst-case scenario.
• C) acceptance of the best-case scenario.
• D) maximization of expected returns.

---

Definitions:

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.

Survey Research

A research method involving the collection of data from a predefined group of respondents to gain information and insights on various topics of interest.

Wording

The choice and arrangement of words in speech or writing, which can significantly affect communication effectiveness and interpretation.

Cognitive Dissonance

A psychological phenomenon where there is discomfort or distress from holding two conflicting beliefs or attitudes.