The following is an opportunity loss table. What decision should be made based on the minimax regret criterion?
A) Alternative 1
B) Alternative 2
C) Alternative 3
D) State of Nature C
E) Does not matter

Question

The following is an opportunity loss table.  What decision should be made based on the minimax regret criterion?
A) Alternative 1 
B) Alternative 2 
C) Alternative 3 
D) State of Nature C 
E) Does not matter

Quizplus · Accepted Answer

The Answer of The following is an opportunity loss table.  What decision should be made based on the minimax regret criterion?
A) Alternative 1 
B) Alternative 2 
C) Alternative 3 
D) State of Nature C 
E) Does not matter

The Following Is an Opportunity Loss Table