The expected regret criterion will always yield the same optimal decision as which other criterion?
A)maximin
B)minimax
C)minimax regret
D)expected value

Question

Quizplus · Accepted Answer

The expected regret criterion and expected value criterion both take into account the potential outcomes of each decision and weigh them based on their probabilities. Thus, they will yield the same optimal decision. The maximin and minimax regret criteria do not factor in probabilities, while the minimax criterion focuses on minimizing maximum losses rather than expected values.

The Expected Regret Criterion Will Always Yield the Same Optimal