Determining the Worst Payoff for Each Alternative and Choosing the Alternative

question 122

Multiple Choice

Determining the worst payoff for each alternative and choosing the alternative with the best worst is called

• A) maximin.
• B) minimin.
• C) maximax.
• D) minimax.

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Definitions:

Performance Management System

A framework used by organizations to monitor, evaluate, and improve the performance of employees.

Rating Errors

Mistakes made in assessing performance or quality, often due to biases or misinformation.

Performance Management Process

A systematic approach to improving employee performance through setting objectives, assessments, feedback, and continuous development.

Z-scores

Z-scores are standardized scores indicating how many standard deviations an element is from the mean of a distribution.