The decision criterion, for a one-time decision without event probabilities, that is neither aggressive nor conservative is
A)maximax
B)maximin
C)minimax regret
D)expected value

Question

Quizplus · Accepted Answer

The minimax regret criterion is used when probabilities are not available and aims to minimize the maximum regret, making it neither aggressive nor conservative.

The Decision Criterion, for a One-Time Decision Without Event Probabilities