The term "opportunity loss" is most closely associated with:
A)minimax regret.
B)maximax.
C)maximin.
D)expected monetary value.
E)Laplace.

Question

Quizplus · Accepted Answer

Opportunity loss, also known as regret, is most closely associated with the minimax regret criterion in decision-making, which seeks to minimize the maximum regret that would be experienced from not having chosen the best alternative.

The Term "Opportunity Loss" Is Most Closely Associated With