Question
A decision maker using the maximin decision criterion will: A assume that uncertainty can be ignored and will select the option with the highest expected
A decision maker using the maximin decision criterion will:
A assume that uncertainty can be ignored and will select the option with the highest expected value.
B assume that he/she will regret not having selected another option and will therefore minimise the possible regret under this assumption.
C assume that the worst outcome will occur and will select the option that will give the highest return from the worst outcome possible under each option.
D assume that the best outcome will occur and will select the option that will give the highest return from the best outcome possible under each option.
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