Which of the following is a drawback of the maximin criterion?
a. It ignores the payoffs associated with the “high demand” state of nature.
b. It ignores the payoffs associated with the “low demand” state of nature.
c. It is not a good method to use when the states of nature are not equally probable.
d. It ignores the maximum payoff that could be realized if the decision maker were a risk taker.
a. It ignores the payoffs associated with the “high demand” state of nature.
You might also like to view...
Concerning foreign exchange trading, the bid rate refers to the price that a bank is willing to pay for a unit of foreign currency; the offer rate is the price at which the bank is willing to sell a unit of foreign currency.
a. True b. False
Which of the following is a relatively inexpensive objective measurement that public relations (PR) specialists can use to gauge the effectiveness of their efforts?
A) personal evaluation of PR activities B) opinion surveys among the firm's publics C) coverage in print and broadcast media D) gross ratings points (GRP) E) cost per thousand (CPM)
Which organization announced 17 Sustainable Development Goals for 2030?
A. United Nations B. U.S. State Department C. Australian government D. Canadian border patrol
As referred to in the text, legacy systems are
A) systems that employ Unix. B) electronic spreadsheets used on a PC. C) any pre-1990 Wintel systems. D) systems found on older ASPs. E) traditional mainframe-based business information systems.