Examlex
One of the greatest things about working for Francois is that he lets his staff make decisions and commitments without always having to check with him first.Francois is practicing
Maximin Criterion
A decision rule used in uncertainty conditions, selecting the option with the best of the worst possible outcomes.
Uncertainty
The state of having limited knowledge about an existing condition or future outcome, making it difficult to make accurate predictions or decisions.
Pessimist
A pessimist is an individual who tends to see the worst aspect of things or believe that the worst will happen, often focusing on negatives rather than positives.
Decision Trees
A graphical tool that helps in decision-making by laying out different strategies and their possible outcomes in a tree-like diagram.
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