The Minimin Choice Strategy Is

question 13

Multiple Choice

The minimin choice strategy is

• A) the action that minimizes the minimum possible returns across all states of nature.
• B) the action that minimizes the maximum possible cost across all states of nature.
• C) the action that minimizes the minimum possible cost across all states of nature.
• D) the action that maximizes the minimum possible cost across all states of nature.
• E) the action that maximizes the minimum possible returns across all states of nature.

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Definitions:

Role-Playing

A method or technique used for training, rehearsing, or decision-making in which participants act out roles to simulate real-life situations.

Process Consultation

A method of organizational development in which a consultant helps a client organization perceive, understand, and act upon process events occurring within the organization.

Unplanned Change

Change that occurs unexpectedly and is not part of a predetermined plan or strategy, often requiring rapid adaptation and response.

Incremental

Describes small, gradual changes or improvements made over time.