A Decision Maker Who Uses the Maximin Criterion When Solving

question 62

Multiple Choice

A decision maker who uses the maximin criterion when solving a problem under conditions of uncertainty is:

• A)an optimist.
• B)a pessimist.
• C)an economist.
• D)an optometrist.
• E)making a serious mistake;maximin is not appropriate for conditions of uncertainty.

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Definitions:

Collision Deductible

A collision deductible is the out-of-pocket amount a policyholder agrees to pay before their insurance coverage applies to repair vehicle damages in the event of an accident.

Insurance Premiums

Payments made to insurance companies to provide coverage and protect against various risks or damages.

No-fault Insurance

An insurance policy where policyholders are compensated by their own insurance company, regardless of who is at fault in an accident.

Collision Deductible

A collision deductible is the amount of money a policyholder must pay out-of-pocket for vehicle repairs before their insurance coverage pays for the remaining costs in case of a collision.