What is the range of the Hurwicz criterion coefficient of realism α?
A)1 to 100
B)1 to 10
C)0 to 10
D)0 to 1
E)−1 to 1

Question

Quizplus · Accepted Answer

The range of the Hurwicz criterion coefficient of realism α is from 0 to 1. This means that the decision maker can choose a value between 0 and 1, where 0 indicates that the decision is made solely based on the best-case scenario and 1 indicates that the decision is made solely based on the worst-case scenario. Choosing a value between 0 and 1 allows for some consideration of both optimistic and pessimistic outcomes in decision making.

What Is the Range of the Hurwicz Criterion Coefficient of Realism