Describe How the Following Criteria Are Applied to a Decision

question 1

Essay

Describe how the following criteria are applied to a decision problem in which the payoff is cost.
a.Minimin
b.Minimax
c.Minimax regret

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Definitions:

Passive Continental Margin

A region where the transition between oceanic and continental lithosphere that is not an active plate boundary occurs.

Oceanic Ridge

Underwater mountain systems formed by plate tectonics, consisting of continuous volcanic mountain chains in the ocean.

Trench

A narrow, steep-sided, elongate depression of the deep seafloor, formed by bending down of a subducting oceanic plate at a convergent plate boundary; includes the deepest parts of the ocean.

Trench Rollback

Process by which a dense oceanic plate subducts into the asthenosphere, sinks, and tends to bend or roll away from the island arc.