39. The decision approach of lowest expected opportunity loss and the highest expected payoff will give

A) different possible actions to follow.

B) the state of nature.

C) the same decision regarding action to follow.

D) the result in a decision tree.

40. A maximin strategy will always choose the act or alternative that

A) maximizes the expected monetary value.

B) minimizes the maximum regret or opportunity loss.

C) Maximizes the potential payoff regardless of uncertainty.

D) Guarantees a payoff for any state of nature

41. A minimax regret strategy will always choose the act or alternative that

A) maximizes the expected monetary value.

B) minimizes the maximum regret or opportunity loss.

C) Maximizes the potential payoff regardless of uncertainty.

D) Guarantees a payoff for any state of nature

42. A maximax strategy will always choose the act or alternative that

A) maximizes the expected monetary value.

B) minimizes the maximum regret or opportunity loss.

C) Maximizes the potential payoff regardless of uncertainty.

D) Guarantees a payoff for any state of nature