The maximin decision criterion is used by pessimistic decision makers and minimizes the maximum outcome for every alternative.
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Q4: The EMV approach and Utility theory always
Q5: Optimistic decision makers tend to discount favorable
Q6: The decision making criterion of realism only
Q7: A decision table is sometimes called a
Q8: Any problem that can be represented in
Q10: The several criteria (maximax, maximin, equally likely,
Q11: Expected monetary value (EMV)is the payoff you
Q12: Sensitivity analysis assumes no increasing or decreasing
Q13: Any problem that can be presented in
Q14: The decision maker can control states of
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