TABLE 17-2
The following payoff matrix is given in dollars.
$$\begin{array} { c c l }
& { \text { Action } } \
\text { Event } & A & B \
\hline 1 & 400 & 700 \
2 & 200 & 500
\end{array}$$
-Referring to Table 17-2, what is the best action using the maximax criterion?
A) Action A
B) Action B
C) either Action A or Action B
D) It cannot be determined.

Question

TABLE 17-2
The following payoff matrix is given in dollars.
$$\begin{array} { c c l } 
& { \text { Action } } \
\text { Event } & A & B \
\hline 1 & 400 & 700 \
2 & 200 & 500
\end{array}$$
-Referring to Table 17-2, what is the best action using the maximax criterion?
A) Action A
B) Action B
C) either Action A or Action B
D) It cannot be determined.

Quizplus · Accepted Answer

The maximax criterion selects the action with the maximum possible payoff. Action B has the highest payoff of 700.

TABLE 17-2 the Following Payoff Matrix Is Given in Dollars Action Event AB14007002200500\begin{array} { c c l } & { \text { Action } } \\\text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array} Event 12​ Action A400200​B700500​​

TABLE 17-2
the Following Payoff Matrix Is Given in Dollars $\begin{array} { c c l } & { \text { Action } } \\\text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array}$