Choosing the Alternative That Is the "Best of the Worst

question 43

Multiple Choice

Choosing the alternative that is the "best of the worst" using decision making under uncertainty would be:

• A) maximin.
• B) maximax.
• C) Laplace.
• D) minimax regret.

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Definitions:

Lower-level Managers

Managers who are at the first or intermediate levels of an organization's hierarchy and are directly responsible for overseeing operational activities and supervising frontline employees.

Broader Objectives

Goals or aims that are more inclusive and wide-ranging, extending beyond specific, narrow targets to encompass wider organizational or societal aims.

Long-range Objectives

Goals set by an organization to be achieved in the long term, often spanning over several years, focusing on the desired future position of the company.

Priority

The fact or condition of being regarded or treated as more important than others.